Nifty -7765/-. Nifty appears to be forming heads and shoulders as indicated in the chart above, the pattern is forming for last two and half months any breach of the neck line would propel it to lower levels. The neckline is at around 7700 levels. Any breach of the same would be disastrous for the bulls.The target as per the pattern comes 600 points from 7700 so the probable target comes to 7100. Will the neckline would be broken and 7100 would be achieved or not only time will tell but the neck line is important as of now.

Mahiidar M
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Trend is Friend.