Faling wedge if supported at 5818/5790 then there may be very very smart recovery....
It is BULLISH pattern....I have shown also FIBONACCI RETRACEMENT there...If supprted at the given area then the journey will be accordingly...and the ultimate tgt will be 6240..
There are other things to considere which signals NIFTY will show new high again ...But about that will discuss later...
If today closed above 5912 then it is a sing of pause/stop for this fall....
STRATEGY...
1....Go long if nifty spot open or trade near 5865/5835 with sl 5818/5790...
2....Cover longs at/near 5910..
3....If NIFTY spot opens above 5896 then also go long with sl 5865..and cover it at/near 5944
4....NO SHORTS TODAY
