The possible action for the next few days is circled.
- The congestion region is breaks down might take NIFTY to the bottom trend line BT and later below.
- On the other hand, if it breaks out, it might take to 5620.
Even though I am in favor of option 1, we have to depend on 2000 NN signal, which gave LONG signal at 4958 and still intact.
The first symptom of a breakdown could be a Hikkake (which means false breakout) formation. A breach of 5368 (NIFTY Spot) and 5377 (NIFTY Futures) will theoretically confirm it.
So, we will have to wait.
