NIFTY Index is likely to test its low of 7241.5/- If manages to hold & remain above it, a double bottom pattern can be seen & reversal can be expected. Else, in longer period of time, it looks weak as it has already Closed below its support of 7366/- so, can see upto 6800/- in longer side.
According to Point & Figure Chart of NIFTY Index (Daily), it is well below its 45-degree downtrend channel & likely for testing another low.
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