NIFTY 50 CURRENT MARKET STRUCTURE

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Nifty 50 is currently in midst a descending triangle pattern. What is more important than patterns is understanding the psychology behind it. Buyers have defended 16800-16830 zone very well and has been tested 5 times. Each time selling pressure has ensured a lower high. If 16830 breaks target is 16000. If 17350 breaks decisively then upside targets of 17800 and 18200 open up