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Equity Research Report 20 february 2017 Ways2Capital.pdf


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PATTERN FORMATION ( NIFTY )

Detail of Chart - On the Above given daily Chart of nifty has Applies the Bollinger Band as well as
We have drawn a trend channel and the price action of the rise from lows has so far been within this
channel. It is common for impulse waves to be able to accelerate above such trend channels. In
contrast corrective waves are often contained within the trend channel. Hence, this channel may help
us determine the medium term trend for Nifty. support level of 8780 would act as a key support for the
Nifty, On the other hand, only a decisive move above 8840 would lead to fresh upside momentum,
which can assist Nifty to head towards 8900 / 8990 levels.