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Breakout in Nifty but mid chanel resistance can block the path

Nifty 50 Index (NSE:NIFTY)  
Happy_Candles_Investment  
NSE:NIFTY   Nifty 50 Index
Trend Analysis Support and Resistance Candlestick Analysis nifty50 NIFTY niftytrend spotnifty houlycandle niftysupports niftyresistances niftysupportandresistance parallelchannels
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trendanalysis supportandresistance candlestick nifty50 nifty niftytrend spotnifty houlycandle niftysupports niftyresistances niftysupportandresistance parallelchannels
Fantastic Bullish breakout in Nifty but there is Mid-channel resistance can block the run way for a while unless we get a gap up opening tomorrow. The RSI also indicates need that Nifty is little bit into overbought territory. Little bit of consolidation before moving ahead will be good. Supports on the lower side are at 20024, 19960 and 19875. 19875 is a major channel bottom support. Nifty not breaking it will be good. If that support is broken major supports will be at 50 Hours EMA 19833 and 200 Hours EMA at 19614. Resistances on the upper side are 20103 strong resistance. Next resistance is 20237 and finally 20394. Peak of the current rally can be near 20556.
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