NIFTY BROADENING FORMATION

This pattern  occurs during high volatility, when a security shows great movement with little direction. The formation is identified by a series of higher pivot highs and lower pivot lows. A trend line drawn over the pivot highs and under the pivot lows frames out the widening pattern. It looks like a megaphone and, in fact, it is also known by that name. 
This pattern is considered quite rare, but is useful in helping  to identify swing trades, rather than a trend trades. Suggesting to buy around the lower band and sell near the top with the stop loss below/above the trend lines.