Tech View: Nifty on track to form a new lower low. What traders should do next week

Negative chart patterns like lower highs and lows are intact and the index is currently on the way down to form a new lower low. “We observe a broader triangle-type pattern on the daily chart and the market is currently placed at the edge of breaking below the lower support of 19,250 levels,” said Nagaraj Shetti of HDFC Securities.

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