NIFTY

Reversed from the PRZ of a Bullish Bat, AB=CD & Alt Shark yesterday. It has covered the min retracement at 38% with a Bearish Shark. All happening within the slanting channel area. Further upside could be probable above the channel resistance of 11980-12000 while support comes in at 11910-11890.

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Nifty has turned from Alt Shark. Going forward 12025 and 110900 will decide trend direction.

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If today's gap is held then yesterday's was a breakaway one, today's would be a runaway one. Only if it breaks and sustains below 12020 will it retest trend line breakout area 11950