Nifty Resistance at the upper parabolic curve line

NSE:NIFTY   Nifty 50 Index
Nifty 16689 find Resistance exactly at the upper parabolic curve line we posted.

Th parabolic curve chart pattern is one of the strongest uptrend patterns a stock can have. This type of pattern goes up the farthest and the fastest as it is under the strongest accumulation and every small pullback is bought by eager traders and investors.

This pattern creates short term price range bases before breaking out to new highs and repeating this range pattern multiple times as it keeps going higher.

The danger comes in near the end of the formation after the biggest move straight up into extremely overbought territory the strong upward price action usually ends suddenly in a price plunge that falls even faster than it rose.

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