As you can see there is a formation of a flag pattern which is a bullish pattern and Nifty has given a breakout of this pattern with the target of approx. 300 points i.e. 17000. It will make some swings but overall its has given a breakout. The only possible rejection is on the level of 16690-17000 according to the fibonacci as well as previous rejection, trend lines.
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*Disclaimer*- This is just an analysis of the data on the basis of technical factors such as chart patterns, candlestick patterns, trend line , option chain data, etc,. Stock Market or Trading in any type of market is subject to high financial risk. You should see this idea as just an analysis. You are not obliged to follow my instructions. You will be responsible for all types gains or loses in the market.
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*Disclaimer*- This is just an analysis of the data on the basis of technical factors such as chart patterns, candlestick patterns, trend line , option chain data, etc,. Stock Market or Trading in any type of market is subject to high financial risk. You should see this idea as just an analysis. You are not obliged to follow my instructions. You will be responsible for all types gains or loses in the market.