Nifty is Squeezing in a tight Triangle.

Nifty is squeezing in a tight triangle and within this week or the next will give way on either side with a big breakout or a big break down.

Today Nifty respected the trendline resistance near 21832 and also respected the Mother line 50 EMA Support near 21626 where it came in the touching distance near 21658 and reversed to end the day at 21697 just below the psychological level of 21700. Same Set of supports and resistances will come into play tomorrow with very little room left for Nifty to give a break out on either side.

Nifty Supports: 21626 and 21482.
Nifty Resistances: 21806 to 21852 (Strong Resistance zone), and 21966.