NIFTY In Consolidation Within Uptrend
May 10, 2023

NIFTY

NIFTY is trading sideways for the last 2 years, which we see it as a consolidation within uptrend. We believe it’s forming a bullish running triangle pattern within wave 4 that can send the price higher for wave 5. Triangle is a continuation pattern, which consists of five waves A-B-C-D-E. Once it’s fully completed, we usually see a break out higher. 20k area coming?

NIFTY In Consolidation Within Uptrend Daily Chart
NIFTY Daily Chart

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