Hi All,
After a massive sell off for few days Nifty
has created a Bullish Pattern on hourly charts and is sustaining above it.
If Nifty sustains above 7800 and closes
above it, there is a chance of having a small bounce back; however, the
resistances are near 7930-7990-8060....
Since the markets are very volatile,
traders are advised to trade with strict SL on both short and long positions...
Please note that this bounce may not be a
short term trend reversal and just a relief rally, let the time decide....
Cheers
Hrishi
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