On Monday, the Nifty experienced a decline of 247 points, resulting in the formation of a Shooting Star candlestick pattern on the daily chart. This drop breached the critical support level of the 20-day Exponential Moving Average (EMA) positioned at 22,370.However, the broader positive chart pattern, characterized by higher highs and higher lows, remains intact on the weekly chart. The current downturn may align with the formation of a potential new higher low within this pattern.
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