In our last view, we told that Nifty may test 8000 area if 7850 taken out. Nifty tested 8050 region and then corrected till 7717.
Now moving forward, Nifty is still in down-trend channel which started 6 months back. From here, next move will only come of Nifty closes above 8060 which will give a nice Cup and Handle breakout otherwise Nifty can test trend-line low again which will be range 7400-7500.
Nifty is currently in no trade zone. Wait and let Nifty give directions :)
NOTE: Above view is presented only for education purpose and this is not any BUY/SELL recommendation.
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