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Nifty Technical view chart update

This article was posted on Jul 15, 2020 and is filed under Market News

Written by Dr. Sreejith K B. Author has written this post for www.nseguide.com

This is a brief post to update the charts for the view posted on May 19th (read).

“Nifty now around 9100
By June July: could reach 10000
By Nov Dec: dip towards 7500
from that levels expecting a bullish phase to finish the fifth wave (2023/24 may be), i.e. again 12-14000 on nifty”

Currently (July 8th) nifty is around 10705 levels. As of now, it looks like wave b retracement is over and expecting to start wave c.

Main support level for nifty is around 6500-6400. As posted earlier a bullish impulse wave 5 is remaining after this possible correction and levels are already posted. You can refer the updated chart for details.

Disclaimer > Author is not a sebi registered research analyst. This post is to be considered as expression of personal view only. “Technical analyses relating to the demand and supply for a particular sector or index is exempted from the purview of the RA Regulations”

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