Om Sri Ganeshaya Namaha

Om  Sri  Ganeshaya  Namaha
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Wednesday, December 13, 2023

Reigning The Nifty 14th December 2023



Daily Chart


Nifty had formed a broadening pattern which is a bearish topping pattern. However, the euphoria due to the Election results led to a breakout on the top. 


Daily Chart 



The breakout seems to be petering out with a bearish engulfing pattern followed by a hanging man, proving the breakout should mostly be a false breakout.

Supports at 20702  break of which could lead to filling  the huge gap area 20508-20267.





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Happy Trading !! 

Lakshmi Ramachandran

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