A small positive candle with a small upper and long lower shadow formed on the daily chart. Technically, this pattern reflects the high volatility of the market. After recently breaking above the crucial downtrend line resistance at 19,450, the Nifty is managing to move steadily higher with lower shadows forming candles in the last three sessions. The breakout of trendline resistance to the upside remains intact.Nifty's short-term trend continues to be positive. One can expect further upward movements in the coming sessions. Any declines to the immediate support of 19,500 are likely to be a buying opportunity on pullbacks. The next upside levels to watch are around 19,800-19,900 in the short term.
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