yesterday we broke previous days high and went down but again in the afternoon we bounce back but the bounce did not sustained today and due to massive moves in the last two days the trend today is rangebound also on accont overseas meeting we are accepecting a downside market tommorow
its broken the resistance on friday and is hovering around rangebound zone chances are it may go down few 100 pts on next session unless something turns up
A symetrical triangle pattern indicates a possibility of breakout, since its mostly on the favour of major trend hence chances are you would get a downward trend if breakout happens and on the upside if there is any possitive news or fii and dii holding more long postion may result in some upmove
the current triangle pattern showing sign of reversal if the 8900 is broken one could go long on 9000 or 9300 call or if the trend is broken 8650 next target is 8550 and 8200
