Today Nifty managed to keep up the good pull back of yesterday and gained 135 points, the support line of V shaped recovery indicated yesterday was not even tested during the day
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| BUZZING NIFTY: V SHAPED RECOVERY |
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Yesterday nifty got resisted at 68% of the fall from 4930-4756, today after a good gap opening the bulls took control of nifty and once 4930 was cleared there was no stopping the bulls , but nifty got resisted at 127% of the fall and manged to close marginally below it.
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| BUZZING NIFTY: FIBO EXTENSION |
The global markets indicate another good start for nifty tomorrow, support for tomorrow are 4982 and 4955 resistance at 5036 and 5101 . a close above 38 DEMA at 5086 will turn the short term trend in favor of bulls,
Being the expiry day for the Sept series and the pain is shifting to the bears camp expect short covering, to help nifty move up.
Range for expiry as per VIX is 4853 - 5089
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