TATA CONSUMERS RISING WEDGE PATTERN

RISING WEDGE PATTERN
WEEKLY PATTERN
ENTRY - 690
STOPLOSS - 725
TARGET - 555

Rising Wedges are bearish pattern

Rising Wedge Patterns forms with Higher Highs and Higher Lows.

Rising Wedge pattern basically forms in two shapes -
1) If rising wedge pattern forms in an uptrend it will make reversal and
2) If rising wedge pattern forms in a downtrend it will make continuation.

The higher highs and the lower lows along makes a trend resistance and trend support. When breakout occurs downside, price breaks the trend support line