Nifty likely to test some resistance around 8480/8500
Overall Nifty has twice made bottom of 8000 and recovered. Technically chart suggests that price will take some resistance near 8480/8500 and we may see some profit booking. I will suggest that if anyone have long position he should booked it and should wait for some lower levels to re-enter the long position.
Note:
Fib Retrace of 61.80 (Resistance)
Bullish Divergence(Positive)
Big W pattern (Positive)
Note:
Fib Retrace of 61.80 (Resistance)
Bullish Divergence(Positive)
Big W pattern (Positive)
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