Broadening Right-Angled Triangle in IDBI

Broadening right angled triangle has formed in IDBI Bank, with good expanding volumes. Break out or break down can be traded for Rs.6 profit.

Generally broadening triangles form on market tops, when there is lot of uncertainty. Today it reached the wolfe wave target at 85 on daily charts. As all the indicators are showing overbought we may expect some down fall due to profit booking. Below is the 5 min chart showing broadening right-angled triangle:

Below is the EOD chart of the Bullish Wolfe Wave in IDBI bank: Please note again, this is EOD chart.