Nifty 50 futures<\/h2>\n\n\n\nThe Monthly<\/em> Nifty 50 chart<\/h3>\n\n\n\n![\"Nifty](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/Nifty-50-Wedge-Top-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n\n- General Discussion<\/strong>
- For the past three months, the market has been trading around the same levels.<\/li><\/ul>
- The market is about to break out from the wedge top, so traders should hold off on taking on new positions until the market breaks out.<\/li><\/ul>\n
\n- Before cutting their long positions, bulls who are already in a long position should wait for a bear breakout attempt of the wedge top.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The wedge top pattern’s second leg up is a strong bull leg, which increases the likelihood of a tight trading range rather than a strong bear breakout.<\/li><\/ul>\n
\n- When the market is trading close to a large round number\u201420,000 in the example above\u2014traders should expect trading range price action and trade accordingly (i.e., scalp, not swing).<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Market is facing a strong resistance at 20000 level because many bulls are exiting near the measured move level of the leg-1 = leg-2 pattern.<\/li><\/ul>\n
\n- A wedge top is one kind of channel; the likelihood of a successful bull breakout is 25%, and the likelihood of a successful bear breakout is 75%.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
The Weekly<\/em> Nifty 50 chart<\/h3>\n\n\n\n![\"Nifty](\"https:\/\/www.brookstradingcourse.com\/wp-content\/uploads\/2023\/11\/Nifty-50-Expanding-Triangle-680x383.png\" "\\"\\"")
<\/a><\/figure>\n\n\n\n\n- General Discussion<\/strong>
- Traders can buy at the inside bar’s high while the market is trading close to the bottom of the expanding triangle pattern.<\/li><\/ul>
- Given the strength of the bear bar and the decreased likelihood of a quick leg up, some traders may choose to hold off on buying until a strong bull close.<\/li><\/ul>\n
\n- If the market exhibits a robust bear breakout of the expanding triangle, traders may choose to short the market.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- The market has formed both strong bull and bear legs, as shown by the bars on the left, but it has never been able to follow through on either one.<\/li><\/ul>\n
\n- Since this indicates trading range price action, traders should scalp their trades\u2014that is, book quick gains or losses\u2014instead of holding a position for a swing trade.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Since the market is moving inside an expanding triangle, traders should concentrate on buying close to the triangle’s bottom and sell close to its top.<\/li><\/ul>\n
\n- The market is also developing an inside bar pattern; depending on the height of the large bear bar, a bear breakout from this pattern may result in a measured move down.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n\n
- \n
- General Discussion<\/strong>
- For the past three months, the market has been trading around the same levels.<\/li><\/ul>
- The market is about to break out from the wedge top, so traders should hold off on taking on new positions until the market breaks out.<\/li><\/ul>\n
- \n
- Before cutting their long positions, bulls who are already in a long position should wait for a bear breakout attempt of the wedge top.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into the price action<\/strong>
- The wedge top pattern’s second leg up is a strong bull leg, which increases the likelihood of a tight trading range rather than a strong bear breakout.<\/li><\/ul>\n
- \n
- When the market is trading close to a large round number\u201420,000 in the example above\u2014traders should expect trading range price action and trade accordingly (i.e., scalp, not swing).<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Market is facing a strong resistance at 20000 level because many bulls are exiting near the measured move level of the leg-1 = leg-2 pattern.<\/li><\/ul>\n
- \n
- A wedge top is one kind of channel; the likelihood of a successful bull breakout is 25%, and the likelihood of a successful bear breakout is 75%.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
The Weekly<\/em> Nifty 50 chart<\/h3>\n\n\n\n
<\/a><\/figure>\n\n\n\n- \n
- General Discussion<\/strong>
- Traders can buy at the inside bar’s high while the market is trading close to the bottom of the expanding triangle pattern.<\/li><\/ul>
- Given the strength of the bear bar and the decreased likelihood of a quick leg up, some traders may choose to hold off on buying until a strong bull close.<\/li><\/ul>\n
- \n
- If the market exhibits a robust bear breakout of the expanding triangle, traders may choose to short the market.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Deeper into price action<\/strong>
- The market has formed both strong bull and bear legs, as shown by the bars on the left, but it has never been able to follow through on either one.<\/li><\/ul>\n
- \n
- Since this indicates trading range price action, traders should scalp their trades\u2014that is, book quick gains or losses\u2014instead of holding a position for a swing trade.<\/li>\n<\/ul>\n<\/li>\n\n\n\n
- Patterns<\/strong>
- Since the market is moving inside an expanding triangle, traders should concentrate on buying close to the triangle’s bottom and sell close to its top.<\/li><\/ul>\n
- \n
- The market is also developing an inside bar pattern; depending on the height of the large bear bar, a bear breakout from this pattern may result in a measured move down.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
\n\n\n\nMarket analysis reports archive<\/h3>\n\n\n\n
- The market is also developing an inside bar pattern; depending on the height of the large bear bar, a bear breakout from this pattern may result in a measured move down.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n\n\n\n
- Since the market is moving inside an expanding triangle, traders should concentrate on buying close to the triangle’s bottom and sell close to its top.<\/li><\/ul>\n
- The market has formed both strong bull and bear legs, as shown by the bars on the left, but it has never been able to follow through on either one.<\/li><\/ul>\n
- Given the strength of the bear bar and the decreased likelihood of a quick leg up, some traders may choose to hold off on buying until a strong bull close.<\/li><\/ul>\n
- Traders can buy at the inside bar’s high while the market is trading close to the bottom of the expanding triangle pattern.<\/li><\/ul>
- General Discussion<\/strong>
- A wedge top is one kind of channel; the likelihood of a successful bull breakout is 25%, and the likelihood of a successful bear breakout is 75%.<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<\/div><\/div>\n\n\n\n
- Market is facing a strong resistance at 20000 level because many bulls are exiting near the measured move level of the leg-1 = leg-2 pattern.<\/li><\/ul>\n
- The wedge top pattern’s second leg up is a strong bull leg, which increases the likelihood of a tight trading range rather than a strong bear breakout.<\/li><\/ul>\n
- The market is about to break out from the wedge top, so traders should hold off on taking on new positions until the market breaks out.<\/li><\/ul>\n
- For the past three months, the market has been trading around the same levels.<\/li><\/ul>