Nifty - Where is it headed?

Nifty on Friday has seen a narrow range top with spot Nifty making an all time high.
However, volume seems to be drying up.
Does this mean SM have stopped trading and only amateurs have taken positions?
Can this be a false upside break of the wedge forming?

I remember the instance mentioned in Tom William's book Master the Markets looking at this instance.

Well... let's not anticipate and wait for couple of hours before the show begins!

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The volume looks weak since the day this material is posted. However, one probable reason missed is the new margin requirements, which may lead to lesser volume.
Bank Nifty has broken the wedge on lower end, hence both indices do not tally with each other.
I am expecting a dip, not a hug bounce downside in Nifty - around 300-400 point correction.
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