Index continues to oscillate lower within the ongoing `Channel` pattern - Tradebulls
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Nifty
Index continues to oscillate lower within the ongoing ‘Channel’ pattern. The decline since 15430 exhibits the characteristics of a 5 wave corrective structure about to terminate. Regular recurrence of bullish reversal candlestick formation near the support zone is a sign of demand. Technically, a decisive break above 14700 remains the main requisite for a firm directional momentum to unfold towards 15040. But until within range it’s ideal to retain low on leverage & maintain a mean reversion approach.
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