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NIFTY trading in bearish channel

NSE:NIFTY   Nifty 50 Index
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NIFTY after breaking the uptrend it is trading in bearish channel and continuously struggling to break channel upward but has been unable, it closed on positive mode forking a bullish hammer candle and looking to test the resistance in the coming week with a target of 8600.00. we can go long on NIFTY and short on 8600.00 but be cautious of breakout there,if breakout occurs exit with small stop loss.

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