Tuesday, July 1, 2014

NSE: INFY - DESCENDING BROADENING WEDGE




This formation is looking like a descending broadening wedge.

Both the trendlines are sloping downward, and lower trendline is more steeper than the upper trendline.

Volume is erractic during its consolidation.

In recent , prices touches the upper trendline and moved down, but it turned again towards the upper trendline, which may open a room for the probable upside breakout.

This pattern is often seen as consolidation, therefore it likely that prices may continue in the direction as they were moving, before this pattern formation.



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