I am bullish on Nifty till it remains above 8472 that would the major test of the overall trend of Nifty where re-evaluations would be needed to determine the medium term trend. What I believe is that Nifty has just finished a running flat if prices go lower than 8612.15 then I would look out for a possibility of an expanded flat. If we consider time wise the current 4th wave has exceeded the time of wave 1 of the entire bull cycle which started in 2013.

Today things were slow and the index was rangebound. Within 2 days we should see the next major move in Nifty.

Nifty

Intraday Levels for 19th March

Buy Above – 8735 SL- 8695

Targets – 8760,8801,8834

Sell Below – 8626 SL – 8665

Targets – 8614,8600,8560

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