NIFTY
Bearish view.
After the breakout in triangle market has moved from 19400-18900 support level and market is also following a triangle pattern in 4 hour frame it's a ascending triangle pattern and after the little fall from 19400 price is now making a bearish flag and pole if a breakout take place in the bearish flag and pole it can lead to breakdown of 18900 too.
And the next major support is 18400 and breakdown in 18400 is a breakdown in the triangle pattern and all of this events combined can cause market to touch 17000.
Bullish view.
I will not consider market as a bullish market until ATH is broken and the breakout of ATH lead to the breakout of triangle pattern if this even take place we could have a new ATH
After the breakout in triangle market has moved from 19400-18900 support level and market is also following a triangle pattern in 4 hour frame it's a ascending triangle pattern and after the little fall from 19400 price is now making a bearish flag and pole if a breakout take place in the bearish flag and pole it can lead to breakdown of 18900 too.
And the next major support is 18400 and breakdown in 18400 is a breakdown in the triangle pattern and all of this events combined can cause market to touch 17000.
Bullish view.
I will not consider market as a bullish market until ATH is broken and the breakout of ATH lead to the breakout of triangle pattern if this even take place we could have a new ATH
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