Half Hourly Chart
Prediction of Nifty upward breakout was validated as theNifty continued the uptrend. Resistance came around 5760-5777, the 76.8% retracement level and closed at the level. A cross of 5815 should see the Nifty targetting 5944-5950 as marked on the Fibonacci chart.
Half hourly charts show support at the uptrending channel at 5724-5748 and breakout area of 5725.
Taking things one step at a time we will think of the bearish possibility once the bearish bias sets in.Now it is bull time.
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