NIfty50 is bullish only above the Fibonacci level 0.786 at 12056, since the market witnessed a decent retracement today (21/10/2020) and pulled back till Fibonacci level 0.50 at 11954 it has formed a RISING WEDGE pattern the current point can act as a trend reversal and pull the INDEX down till 11800 to 11775
Key points : 1) Nifty has formed a triple Top
2) Rising Wedge (a potential reversal can take place)
3) psychological level at 12000
Key points : 1) Nifty has formed a triple Top
2) Rising Wedge (a potential reversal can take place)
3) psychological level at 12000
