NSE:NIFTY   Nifty 50 Index
The index is forming a classical inverted Pennant and is currently undergoing consolidation. Bottoms are not made after such round of consolidations if history is to be referred to. It looks the index is gearing up for another round of selling once the lower trend line is breached. the view stands negated once a decisive close has been achieved above 10605-10610 on closing basis.