NIFTY in this triangular upward trending pattern formed is currently at lower trending line.
To save itself from further breakdown it should trade above 11913 in next session on 09th December.
If it trades below 11913 and trade yesterdays low of 11888, there is big chance to slip down to 11794 and further to 11694 level.
Since we are already in the narrow zone of this triangular pattern, A breakout is must.
Will build up new highes only when it breaks up yesterdays high i.e,12057 , 12158 and then the upper trend line .
To save itself from further breakdown it should trade above 11913 in next session on 09th December.
If it trades below 11913 and trade yesterdays low of 11888, there is big chance to slip down to 11794 and further to 11694 level.
Since we are already in the narrow zone of this triangular pattern, A breakout is must.
Will build up new highes only when it breaks up yesterdays high i.e,12057 , 12158 and then the upper trend line .