Daily Chart I
Daily Chart II
Nifty broke out successfully abobe the cup and handle pattern opening up possibilities of a target of 12300.The ride so far seems to have been one way and the Nifty has closed a few points above the 50% retracement level.
We may expect a few bumps at 61.8% of the entire fall at 10561 and the resistance line of the expanding triangle.
Booking profits on the rise is recommended.
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