Half Hourly Chart
Breakout from Pennants normally lead to a similar and sharp move in the same direction as the Pole.However, rarely a pullback is seen close to the breakout point.
Nifty seems to be seeing such a pullback. The target of the blue triangle which formed is at 10545.Strong resistance from the 20 dema and 50 dema is at 10555.High possibility that the downtrend continue after hitting these resistances.
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Happy Trading !!
Lakshmi Ramachandran
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