Nifty Elliot wave Analysis

• FII's bought 773  contract of Index Future worth 32 cores, 6.1 K Long contract were squared off and 6.9 K short contracts  were squared off by FII's. Net Open Interest decreased  by 13 K contract , so FII squared off both  long and shorts in Index futures.

Nifty opened with gap up , touch the upper band of Hourly channel and fall down to touch the lower end of trading range, As disucssed yesterday analysis  8050-8060 needs to be watched closely in coming 2 session, Nifty made low of 8057 and bounced back. On Upsidse move above 8135 can see Nifty moving back to 8160-8170 odd levels.As per EW analysis Nifty can

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