The abundance of continuation patterns suggest lower chances of steep falls - Geojit Financial
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Nifty Outlook:
We are within touching distance of the 15330/350 target that we had set out with at the start of the week. Negative divergences have begun to become prominent in 60m, and we expect early upside attempts to struggle to clear the 15330/50 region. However, the abundance of continuation patterns suggest lower chances of steep falls. Meanwhile, the present structure does not call for the much awaited vertical up moves, but a dip into the 15255-25 region could set up one, aiming 14450/520.
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