Two possibilities
1) NIFTY weekly chart given break down from the triangle ,retest happening now , we can confirm this if the index takes resistance around 15800 and fall, then the target might be 13500--ie support at pre-covid trend line .
2) NIFTY weekly chart breaks the channel and taking a pause now back in to channel ,if this week candle closes above last week high then there may be a short term up trend till 16500 ie middle of the channel ..if reverses from around 15850 and breaks the low of last week candle then target might be 12750--
Happy Trading !!
1) NIFTY weekly chart given break down from the triangle ,retest happening now , we can confirm this if the index takes resistance around 15800 and fall, then the target might be 13500--ie support at pre-covid trend line .
2) NIFTY weekly chart breaks the channel and taking a pause now back in to channel ,if this week candle closes above last week high then there may be a short term up trend till 16500 ie middle of the channel ..if reverses from around 15850 and breaks the low of last week candle then target might be 12750--
Happy Trading !!