Ascending Broadening Wedge Patterns

nifty daily charts

high made 

7700 on june 11th

8180 on 8th sep

upmove of 8180-7700=480 pts in nearly 3 months time

8180+480=8660

probable high will be near 8660

8660 will also be third test of upper T/L

and as per symmetry may be near 10th dec

huge caution need to be taken near 8660 levels

For downward breakouts, use the lowest valley in the pattern as the target.(7422)

For upward breakouts, compute the difference between the highest peak (probably near 8660) and lowest valley (7422) in the pattern to get the height. Multiply the height by the “percentage meeting price target”(i.e 69%) and add it to the breakout price ( 8660)

 get the price target of 9500