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13 August 2014: Nifty Elliott wave analysis: IIP and CPI inflation shocker may give some soft opening. As long as it is above 7680 it holds scope for the formation of fresh up wave. One intraday correction is possible (with support @ 7680) !!!
12 August 2014: Nifty Elliott wave analysis: A bounce from 50 DMA is giving a possibility for a move towards 20 DMA, i.e. towards 7680 levels. Trading support = 7616 to 7593.
11 August 2014: Nifty Elliott wave analysis: We have ‘Hammer pattern’ on daily chart. It is showing for potential 1-2-3 days trend reversal but confirmation point will be at 7610/target = 7700. Technical support – 7540-7500!!!
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.
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