NIFTY FUTURES
Breakout above the historical peak witnessed.
Channel within a channel has been shown in the chart.
The breakout and larger channel effect to be seen.
Near term concerns RSI in overbought zone.
Reversal with a lower high and lower low or swing top
here now can hold the rise for minor
correction or sideways volatility before moving higher.
The breakout and channel effect is likely to show up
the upper channel line to be tested or the Fib-Retracement
of the fall as shown in the chart.
Breakout horizontal line will work as support and should
not be violated with bearish candle.