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NIFTY SHOW

Today nifty future moved as per the saying" BUY ON RUMOR SELL ON NEWS ".The NF rallied to 5428, which was 23.60% retracement level,where it encountered resistance followed by deep selling.Nifty Future could not sustain 5300 and crossed 5256,the 38.20% retracement support on daily chart.The NF has closed below an important support level,this has triggered more weakness in market.The NF should take a support of 5120 which is 50% retracement level and bounce bank to keep the previous rally intact.Violation and close below these levels will give an indication that bears have taken control and take the market to lower levels

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DOJI

Nifty witnessed an absolutely sedate session,the bias looked positive but lacked momentum . The broader market was negative with 665 advances to 808 advances.The rally seemed to take a halt for a day before continuing further.i feel that the rally would take the markets to 5470-5500 before correction.since we are lacing fundamentally the longevity of this rally cannot be counted on.                                                                                                       On the hourly charts we are making higher highs and higher lows keeping the momentum intact,still as advocated a burst of 40-60 points on the nifty is still pending before correction ,i feel this might come tomorrow.Hence adding nothing more to i...
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