nifty has created a 5-0 pattern in price action, 17530 becoming a buying zone with stoploss 17480for chart mentioned resistance targets, below 17500 a bearish view might come where 17350 will be a major support. 17890 becoming the median line of 2008 market top exactly from there market has plunged, quite possible a more downtrend we can see if 17500 breaks, but as it is a close above 17500 for the first time ever, next week nifty must be safe above 17500. as for a long time there were no sharp downward movement as given today, gann fan has been put the top to analyze further the market behaviour, as long as the upper 1/8 line is crossed over, nifty to be considered in an alert mode.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.