The downtrend will continue in the month of September also as NIFTY is forming a contracting triangle. The target for this downtrend is 4916 in downside. After it touch the level of 4916 it will start moving upward till 5200 up to 5280 in the upside in the months of September and November. This time the chances are nifty will not touch the upside trendline. Most likely it will start falling from 5200 - 5280 to downward again in November and December.
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