NIFTY DAILY CHART
- NIFTY daily line chart shows that the price is near the bottom of the channel on a closing basis.
- So today after the noise of the gap down opening if nifty manages to come back and close above 4875 it is ok.
- otherwise we will break the channel on a closing basis.
- And a large correction can be expected.
- One pattern that can save bulls is the Descending broadening wedge that i have posted in this blog.