Nifty continued is downtrend today. Nifty did make a fall in the first half of the day and did move a strong bound back during the second half. 

We did maintain a downtrend in Nifty for last couple of days and the extreme short-term trend has turn positive. Do not be surprised if there is a gaps up around 18370. If there is a gap up above this point, there could be big rally for the rest of the day.

Nifty seems to be creating an ascending triangle pattern. This could cause a breakout 

18378,18412 and 18458 could be levels to watch out for upside.

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