Mighty Nifty - What next?

Updated

Price action is not stabilished yet and I expect it will test the trend line before moving up. People were surprised to see nifty correcting nearly 900 points. But price action formed a clear trend reversal pattern in daily chart. There was no fundamental news for the fall, but the fall was indicated in technicals.

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Nearing the trend line!

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Finally testing my trend line.

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snapshot

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