Nifty 50 falling wedge pattern trading strategy

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he chart indicates a potential falling wedge pattern, signaling a bullish breakout opportunity. To trade this pattern, wait for the price to break above the resistance zone at ₹24,200, which serves as the entry point. For risk management, set a stop-loss at ₹23,000, just below the lower trendline. The first profit target can be calculated by measuring the height of the wedge (approximately ₹4,000) and adding it to the breakout point, yielding a target of ₹28,200. A secondary target can be placed near the next major resistance zone around ₹30,000. This trade setup offers a favorable risk-reward ratio, where the risk (₹1,200) is significantly smaller compared to potential rewards (₹4,000 to ₹5,800). Monitor the breakout for strong volume confirmation to validate the move.