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Buy on Dips Market. 15077-15265 Upside levels to watch.

 Bulls are in full Josh.

Broad indices participating in current rally so this rally to continue further. 

Buy On Dips market.  Current market providing opportunities for both Bulls and Bears.

Shorting in this kind of market needs expertise so normal traders avoid shorting and Buy on Every dip to participate in rally.

Majority of sectors completed corrective pattern and begun fresh upmove.

Be stock specific in entering trades. 

Metals, Pharma, Banking stocks looking bullish.

Nifty has begun its fresh upmove from Budeget day. 

On the Upside watch 15077-15265 levels to watch.

On the down side supports exists at 14680-14600 zone.


Suryadev Bandari

Research Analyst

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Exhaustion gap formed. Bulls strength eroded???.

Nifty bounced back strongly on back of Major news announcement of Cut in Corporate Tax on Friday. Today nifty retraced 61.8% of entire fall. As of Now, wave 2 in finishing stages.  More possibility for Wave 3 down to begin any time soon. Hence, Be cautious. Its time to reduce long positions. Profit booking time. From current levels, nifty likely to retest 11000 levels anytime. Short term top made. New highs may not be possible from here. Keep booking profits in long positions. Wave 3 Impulsive Down move can begin any time. Regards, Suryadev Bandari Research Analyst

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