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NIFTY FUT short term trend analysis


Sign of bullish 5-0 harmonic pattern has appeared on nifty 240 min chart, which completes at 5081. Currently NIFTY future trading at 5214 and stochastic indicator entering below 20 suggesting that weakness will remain continue and NIFTY may taste 5140-5080 zones during this weakness. We are expecting that 5080 zones can act as good reversal area.


Recommendation: buying nifty between 5140-5080 for targeting around 5400 and more with stop loss of 4900 on daily closing basis might be appropriate.
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