RISING AND FALLING WEDGES and WEEKLY CHART

The Rising and falling wedges have been producing the desired result. For further details refer

http://thepatternsite.com/risewedge.html

http://thepatternsite.com/chartpatterns.html

http://www.investopedia.com/university/charts/charts7.asp#axzz1Xdki9R4d

In the weekly charts Nifty has almost retraced upto the breakdown point of the triangle. If Nifty Penetrates into the triangle and closes above the downward breakpoint it indicates strength  - else otherwise it indicates weakness.