Daily Chart
Half Hourly Chart
Nifty failed to hold above the 61.8% retracement level forming a doji pattern on daily charts.The doji after a move signals waning of momentum and a hesitation to carry on the uptrend.
Half hourly charts however show the Nifty corrected in a sideways movement forming a flag.The flag is a bullish continuation pattern and expected to break on the upside.A break and close above today's high of 5375 is required to avoid going down.Supports and resistance marked on charts.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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