Nifty Trading levels and Broadening pattern

• Daily chart need to close outside the range shown in first chart. Price will extend the down trend on closing below 8185.  Closing above 8308 may result in a bounce.
• 50 Week SMA continue to hold. Bears need to close below this line for extending the fall.
• The broken broadening formation is looking good so far for bears. There can be a bounce towards the support line of the pattern or partly into the pattern before the next big fall can happen.
• Tata Steel chart analysis: CLICK Here

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