NSE:NIFTY NIFTY 50
Nifty Daily forming inverted pattern. Handle is in formation. Handle can form a top around 8422, then suddenly falling, breaking cup floor (7918) and hitting 6815 in a matter of 3-4 trading sessions. Similar inverted pattern was formed between Oct 2014 - Aug 2015; however, it failed immediately as price action went above cup floor support of 7940. it further made low of 6825 but it took it almost 5-6 months. If this time considering the circumstances post #Demonetization, we can expect a sharp move.