Daily Chart
The fall from the rising wedge continued with the early part of the session making an effort to recover thus forming an Outside Day pattern. This is a reversal pattern indicating a leg up to touch the resistance line of the expanding triangle which has developed with the yo-yo action. This resistance line nearly coincides with the 50 dema.
If the reversal fails the fall towards the rising wedge and bearish head and shoulder target of 8710 continues.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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