Notice in the 5 hourly NIFTY future chart the 1st triangle starting 01/02/12 & ending on 07/03/12 was of 35 days, 2nd ending on 29/03 was of 22 days & 3rd ending on almost 11/04 was of 13 days with the Red base line. Time-wise there is co-relation with fibonacci numbers 34, 21 & 13 ! All made lower High & but found support along the yellow (~ 5175) line.
In this Nifty chart, lower line is 4531 the recent low, next line (5080 is 50% retracement level from 5629) and top line around 5170 is giving support repeatedly to form three tringles .
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