Nifty's bounce from March lows has taken the shape of a rising wedge, a bearish continuation pattern, on the daily chart. The RSI is holding the ascending trendline.
Potential breakdown of the ascending trendline on the RSI could be considered an advance warning of wedge breakdown on the price chart.
Traders can take bear put spread once the RSI breaks below the ascending trendline.
Potential breakdown of the ascending trendline on the RSI could be considered an advance warning of wedge breakdown on the price chart.
Traders can take bear put spread once the RSI breaks below the ascending trendline.