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08 August 2014: Nifty Elliott wave analysis: Nifty hourly chart has ‘ending diagonal pattern’ and now adding H&S pattern. Key support will be in 7600-7590 area but breakdown is likely. Expect stiff resistance at 7709 now.
07 August 2014: Nifty Elliott wave analysis: Nifty hourly chart if forming a serious pattern for extension of dip. Have a look at 7640 very carefully. If it fails to revive near 7640 then it can extend fall towards 50 DMA at 7575 levels.
06 August 2014: Nifty Elliott wave analysis: Nifty hourly chart is giving ‘ending diagonal pattern’. It may not find it easier to move above 7800 levels. A fall should come from near to 7800 levels. A brutal sell off coming!!!
05 August 2014: Nifty Elliott wave analysis: All eyes will be on RBI’s monetary policy review. Outcome will decide market trend. Based on chart, momentum will fail at top for bulls and bears may again enter!!! 7750-7725 will be stiff resistance!!!
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