Will we break the channel or will remain in consolidation
Over the past few months, the index is oscillating in the channel, it is a continuation pattern.
It tried to breach the upper trendline but fail to do so
It opened above the previous high but couldn't sustain above it and ended up forming a bearish candle.
Global cues are not in favour to break this level, we may see a downward rally. Upside the green trendline is resistance and the 17600 level holds an important support.
It tried to breach the upper trendline but fail to do so
It opened above the previous high but couldn't sustain above it and ended up forming a bearish candle.
Global cues are not in favour to break this level, we may see a downward rally. Upside the green trendline is resistance and the 17600 level holds an important support.