Breakout in nifty which I mentioned failed to cross ans sustain above its first hurdle (near 8776) and there was sharp fall afterwards, Nifty is still holding the lower trend line of the WEDGE (It managed to close above the Wedge) pattern which is an indication of a breakout and an upward rally. But Nifty must break out of its nearest hurdles for the confirmation. If this does not occur then nifty may continue with its bearish trend.
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