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Nifty

Price action has now reached the ‘Confluence Zone ‘ of the ongoing two channel patterns. The frequently occurrence of reversal formations at the support zone of the immediate channel reconfirms the strength in the underlying pattern support. The latest occurrence of a ‘Harami Cross’ is also a sign of the support being potent & holding the major trend afloat. On the flips ide the larger channel support is also been tested for the 2 nd time by this recent formation. Technically, a decisive break on either side of the 14940-14330 range would result into firm directional momentum play for the upcoming weeks with odds still favoring a buy on declines market for investors & positional traders

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