How to trade Nifty on Union Budget 2014

• FII's sold 17.4 K contract of Index Future worth 662 cores, 11.5 K Long contract were squared off and 5.8 K short contracts were added  by FII's. Net Open Interest came down by 5.7 K contract suggesting FII are again going short at higher level.

Nifty continued with its correction and took support at 7551 as we discussed yesterday as per abc pattern , Now Nifty has corrected 258 points from highs,Today we have discussed 2 Elliot Wave target Bullish and bearish, Bullish target comes @ 7843 and bearish one @ 7394 as discussed in below chart.Nifty will be highly volatile today and big move can be expected as per time analysis between

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