Nifty future moved in a narrow range yesterday and did not trigger the anticipated sell signal either. However, the pattern is still in force and trading below 10538 will act as the trigger.Any trade above 10596.55 will negate the pattern.The oscillators and indicator on the daily chart and the strong resistance in 10605- 10620 regions indicate that it is near the top of this cycle.
The day traders can sell it below 10538 with a stop loss of 10577 for the target of a 10482,10473 and 10435.
The Positional traders can sell it below 10538 with a stop loss of 10599 for the target of 10435.
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