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NeeteshJain
Aug 22, 2016 12:12 PM

Nifty Breaks Down from Ascending Triangle (Sell) Short

Nifty 50 IndexNSE

Description

Today's price action breaks down Nifty from the continuation Ascending Triangle Pattern. Now the price movement shall continue the downward rally to price levels of 8570 and 8535. It is important to note that 8520 is a crucial support in order to maintain the upward rally. Anything below will be taken as trend reversal.

Target 1: 8570
Target 2: 8535

Stoploss: 8700

Trade closed: target reached

Target 1 Reached, Book Partial Profits and keep a stop loss at 8670 to target 2

Trade closed: target reached

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