Nifty is following Descending broadening wedge pattern and it will take many more days to come out of this pattern which will essentially establish bottom formation and start of bull run. Till then we should follow it in short term which is turning out to be down at the moment. Weekly charts have topping out features and next week may well be when the bears come to market for next couple of weeks. Levels to watch out are 5849-5868 on upside. Downside 5648-5668 could well act out as supports in coming week.
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