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Bank Nifty failed to breakout of the 10245-11745 range.A symmetrical triangle formation which is called a pennant has formed. Pennants are continuation patterns and should ideally break in the direction of the exisitng trend which is UP. However it is wise to be prepared for the worst and downward breakout points have been marked too.The breakout or breakdown should give a 500 point move.
Supports and resistances are marked.
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Lakshmi Ramachandran
www.vipreetsafetrading.com
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