Market is stuck in a descending triangle as marked in my chart. What is a descending triangle? it forms at the highs or lows of a trend. Notice that the market is not making lower lows its making only lower highs and its forming a triangle pattern. This pattern is forming after a uptrend and the triangle can break either of the sides in my opinion it has a good chance of breaking up side as usually it gives a breakout as per the previous trend. Once the triangle breaks out there is immense energy released and the move is bigger thn the usual moves in the market. Usually this pattern gives a breakout at the apex of the triangle lets see how the market performs tomorrow and if it finds support at 2050 level again. TIll the time market is above 2050 i am bullish.
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