Nifty was waiting for a trigger to start its course to correction and i think it have started its move into that direction.
As a trader i be more than happy to see Nifty completing the much required retractment as it will expedite its next move towards 13000-15000 levels in coming years.
My advice to new traders,
Preserve your capital and let Nifty complete its...
This simple old school charting technique tell us that Reliance is looking good for a long trade with green lines as targets.
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All the best!
Market loves to create trap for traders and unless you dont learn to read these traps you will end up on a loosing side.
Nifty is forming a short term bullish structure and rather then opening a short sell setup i will prefer to go long on the breakout from the wedge.
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