Hi All,
Even on Thursday also Nifty could not close
above the Falling window (Downward Gap) pattern near 7720-30, however managed
to recover from its day’s lows near 7670.....
In this bargain Nifty has produced yet
another Hanging Man Pattern, which may not be very bearish, but a consecutive
appearance on 2 days makes it very alarming for the markets.
So going forward, the lows near 7670-7635
will be very supports which need to be held for any upside to continue, whereas
on the higher side resistances will be
intact near 7750-7780-7800....
Will update the market View
after the first hour of trade if any significant development take place in
markets....
Cheers..
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