Falling Channel in NIFTY 50 Index
Considering the technical aspect, a falling channel pattern can be seen in the 1 hour chart of Nifty 50 Index which indicates a move above the 11840 handle will lead to a bullish breakout of a pattern and can assist the pair to test the 11960 handle. On the contrary, failure to have a breakout will make the pair vulnerable to test the support pegged near 11650 handle and move below will take the can induce further selling towards the 11550 handle.
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