agrwal_amit

Nifty analysis for july series

NSE:NIFTY   Nifty 50 Index
# Since mid june Nifty appears to be on a sideways move.

# With 15900 broadly on upside, the lows are shifting up gradually.

# It is likely to stay like this till mid july it seems and continue to form a lower low with max upside to 15900

# A false breakout is also possible to make people believe that the nifty is breaking out before the indicated pattern completes.

# After consolidation on narrow range, it can go on either direction as shown in arrows pointing up & down.

# A decisive break above will open upside but it seems everybody will be prepared for upside. So a very convincing trade is not on upside.

# if it breaks the pattern on downside either after consolidation or after first upside breakout on upside, there is a huge target of 15500 on downside.

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