Triangle formation still in progress. 8900-9200 upward resistance.

Nifty still in a triangle formation and wave e of the triangle is due as per updated pattern.
The minimum upside for the short term is 8900-9200.
Avoid fresh short selling at this juncture.
Pull back rally is due.
Supports can be found at 7700-7500.
The range is Huge, so risk also high.
Private sector Banks also completing triangle like formations in their respective charts.
We can see some short term buying in private banks at these lower levels.
Trade accordingly.
 Suryadev Bandari
Research Analyst

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