Nifty Weekly Technical for August 29

In markets, waiting for an opportunity is also Trait of Investor. One should not wait for a bottom as it will come only 1 Day rather wait for market to stabilize before committing your money to Mr Market.

Nifty Hourly

On Hourly Chart we are seeing formation of Falling Wedge Formation with Resistance at 4796 Levels
The falling wedge is a bullish pattern that begins wide at the top and contracts as prices move lower. This price action forms a cone that slopes down as the reaction highs and reaction lows converge.However, this bullish bias cannot be realized until a resistance breakout.

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