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Mind Blowing Strike Back by Bulls.

As expected on Budget day's update, Bulls strike hard from lower levels. New all time High's keep on forming in Nifty and Banknifty.
Six days of correction retraced fully in 2 trading days by Bulls. 
Power of Trend.
Elliottwave Forecasted this bounce at lower levels on Budget day itself.
Short sellers slaughterd by Bulls.
This buying spree continues further.
Upside to argets and stock specific levels available to paid subscribers ok only.

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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