Chart Pattern Shows 2 Observations - Inverted Cup and Handle Pattern, Which shows Strong Bearish Move Below 11600 - Clear Down Trend Channel - Fibonacci Retracement view shows, Market is taking support near 50%=11619 - Normally Nifty takes Support at 61.8% Retracement Level Which is 11506 - So 11500 is Very Very Important Support to hold for this Up-Trend - If breaks Below 11500 we may see 78.6%=11344 100%=11137
Currently Strong Resistance Formed at 11841, sustain above this will neglect this Bearish view.
Open Interest Data: 12000 Strong Resistance & 11700 Strong Support
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