That's Bad News, Atleast for Indian Economy & our banks which are high on NPA's. If I start on explaining this scenario & complex situation of our economy combined with Global scenes , it will go on, so let me cut here & jump back to what we do always - Analysis.
After the channel breakout , Nifty go into ranging mode and if you guys remember our targets are still to be reached around 8000's. But here is another chance for who missed it.
We have potential triangle formation but the inner moves offers us a chance to short. Check chart for targets,stops. Determine Entry after checking your risk-reward.
Happy Trading !