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Nifty: Will history repeat itself...???

NSE:NIFTY   Nifty 50 Index
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Nifty
CMP 10679.50

- Nifty has been trading in up trend channel

- trend line resistance comes around 10730 levels

- even in this channel, Nifty has formed a pattern and we have highlighted striking resemblance of trade pattern re-emerging

- if history is to be repeated then there is a strong case of Nifty testing red support zone highlighted in coming days


One may consider selling Nifty in 2 parts:-

if we see rejection at current levels itself

& / or

on further rise towards 10720-10740 levels


Target 10430-10500

Take care & safe trading...!!!
Jan 12
Comment:
Wowie... what a fall...Consider booking partial profits...
Jan 12
Trade active:
Nifty has recovered from the lows for the day and Still 15 mins to go.. Good that we booked some profits.

A close here and Nifty will be forming a dragon fly doji candle for the day ...
Also Nifty trend line resistance is at 10730 levels

Monday could be an interesting day...

Plan your trade accordingly...!!!
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