Broadening Wedge Pattern Breakout in Nifty 18930+ Target

On Daily Timeframe, NIFTY indicating breakout of downtrend broadening wedge pattern near 17820 level. After this breakout expected strong upside bullish rally upto 18930+ target in short term(1-3 months). This breakout gives good opportunity to go long in nifty with stop loss around 17550 level. This pattern will be fail if nifty starts trading below 17550 level.

If nifty sustain above the breakout level then this trade can gives 1:4+ reward upto 18930+ level.

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Note

Nifty 18250+ @1st target

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