Pivot Point & Trendline

NSE:NIFTY   Nifty 50 Index
Nifty Facing Resistance Near Upper Falling Channel Line .....It Can Either Retrace Lower trendline & Move Above 8600 Or Can bounce from fib retracement levels. Rally From 8600 is not an completed impulse as of now,But it can either move up as Impulse of zigzag family pattern,If Zigzag then it may retrace till 8950 Or If impulse then can go well above 9000 ,You can get a clue from Bank Nifty as it is quite strong.
Pivot is 8680 End of Running triangle (Top of Wave e) and immediate resistance at 8600.
But FII participation is low as of now to consider this as impulse......Lets See.


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