Nifty is in a symmetrical triangle with chances of imminent breakout on either side most likely tomorrow or on expiry day.
Bearish bias because one can see on 4 hr chart Nifty formed a M pattern and then broke below the neckline and then retested and tried to go above the neckline but ended the day with a shooting star.
On the downside immediate target of 17500 is quite possible while on the upside 17970 which was the budget high is likely.
Happy Trading and Best of Luck!!
Disclaimer - This is not trade recommendation or advice. This is purely for educational purposes. Do your own research before entering into a trade.
Bearish bias because one can see on 4 hr chart Nifty formed a M pattern and then broke below the neckline and then retested and tried to go above the neckline but ended the day with a shooting star.
On the downside immediate target of 17500 is quite possible while on the upside 17970 which was the budget high is likely.
Happy Trading and Best of Luck!!
Disclaimer - This is not trade recommendation or advice. This is purely for educational purposes. Do your own research before entering into a trade.