NIFTY Chart Update

• Some hope for bears in the form of a Hanging Man But this pattern need confirmation with lower opening and a close preferably into the GAP area shown in second chart with large volumes.
• 2nd chart shows crucial support levels in 5 Day High EAM at 5977 and the GAP between 5963 - 5982.
• Last chart shows price above the crucial 78.6% Fib level. Price must close above this level on closing basis to carry the bullish momentum to the coming week.

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