Nifty - Hey Bulls, Act Now or It's a Good Bye for February
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Is anything interesting in the #BudgetDay2024?
Let's focus on the Nifty chart here.
The potential for a bullish trend is evident by forming a Bullish or Inverted Head and Shoulder pattern, indicating a possible upward market move.
A significant obstacle lies in the form of a gap between 21,800 and 22,000, establishing a formidable resistance zone.
The presence of a Doji pattern, coupled with bearish momentum on the hourly chart, raises concerns about the weakening grip of the bulls on the market.
Should the bulls prove unable to breach the resistance, a looming threat emerges as a potential aggressive onslaught by the bears.
Traders must remain vigilant and watch the levels closely.
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Bulls entered the Dragon but needed to break the resistance of the gap.
