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Doji@Top indicating Exhaustion of Bulls.

 After continuous rally of 9 days, nifty formed Doji  pattern at top.

At same range nifty took reversal in previous also. Hence, traders preferred to book profits. Global markets too showing similar indications.

Tomorrow, MPC committee to announce RBI CREDIT POLICY. 

Banking stocks likely to witness profit booking for short term.

Avoid fresh long positions. It's time to book profits in long positions.

Technical indicators formed Negative Divergence in Indicators.

It's time to stay ALERT. 

KEEP STRICT STOPLOSS TO LONG POSITIONS.

stock specific moves can be visible.

As mentioned earlier, nifty can correct up to 11550-11440 zone in coming sessions.

Regards,

Suryadev Bandari

Research Analyst

www.earningwave.com


 


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