ON DAILY AND WEEKLY TIME FRAME IT LOOKS LIKE NIFTY IS TRADING WITHIN THE TRIANGLE
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| DAILY CHART |
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| WEEKLY CHART | | | | | | | | |
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It is trading near the apex of triangle, so likely there is breakout/ breakdown within few days, until then it looks like it will trade within range, which for coming week will be 5470/75 -- 5850/60. The clear trend of nifty will b possible only after it breaks range of triangle. REMEMBER POSSIBILITY OF FALSE BREAKDOWN/ BREAKOUT.
If breaks lower trend line possibility of nifty going to 5200 and then to 4800-4900, if breaks upper trend line possibility of new life time high increases.
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