Update - Technical View : Nifty by Prabhudas Lilladhar Ltd
Technical View : -
Nifty 60 Min chart: As we have already given our view on Nifty since then, the nifty has rallied almost 700+ points, made a high of 22250 from our recommended view, and almost resisted near the 128% retracement of the current rally where a bearish ABCD harmonic pattern formed and with a correction of 400 points, now near the important support level of 21887, which is 50% retracement level, and 20 DMA is at the 21800 level with 61.8% retracement. If the support of 21887 is sustained then we can anticipate the upper end of the rising channel with target of 22500 level and with major support zone visible at around 21700 zone, which is the lower end of the rising channel pattern.
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