Hi All,
Nifty has broke out of a
falling wedge pattern on intraday charts and showed a lot of strength near the
supports of 8550 by bouncing back almost half a percent. It has also given
divergences on hourly charts which collectively suggests a pull back in prices.
Traders can go Long only and only above 8595-8600 levels for
short term or even positional long trade in Nifty. Stop loss for short term can
be below 8540 and positional stop loss can be below 8460….
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