Stay long in Nifty; Top 3 stocks which could give up to 27% return in the next 3-4 weeks
The Nifty Index Futures has taken support at the lower end of the Broadening Wedge pattern and is currently consolidating in a channel pattern.
The upper end of the channel is placed at 10630, and a breakout from the upper end of the channel can trigger a short covering rally to levels of 10720-10820 which is being 50 percent and 61.8 percent Fibonacci retracement levels respectively.
However, failure to breakout from the upper end of the channel i.e. 10630 can lead to fresh selling dragging it to levels 10440-1028
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