Nifty after breaking down trend channel it has traded further down ward to its crucial 50% fibo support. Nifty doesn't seem strong enough to go upside, it closed on weekend forming a bearish flag pattern. In the coming week Nifty may touch the crucial level 7959 and from there it further breakout doesn't occurs we may see upside movement after touching the 7959 level.
Trade closed: target reached:
NIFTY Target achieved, exit, cheers