As mentioned in my previous post Nifty took Resistance near 8275-8300. Nifty tested 8306 however failed to close above 8275. As mentioned earlier Nifty has taken Support at the 50% Fibonacci Retracement and formed a Double Bottom near 7900 with Positive Divergence on RSI. All these are signs of possible Trend Reversal. However Bulls need to break above 8300-8338 to confirm Bull Trend.
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