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Bullish Harami Pattern@support level, Trend Reversal signal.

 As expected in last update, Bulls held crucial support 14700.

Today Nifty daily charts formed BULLISH HARAMI pattern, highly successfull reversal patternm indicating that immediate fall halted and fresh up move has started.

on the way to upside nifty faces hurdles at 14940 and 15045. Above which we shall see continuation of upmove.


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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