THE TECHNICALITY
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· Resistances on NIFTY are 7925 / 7999 / 8060.
· Support Levels for NIFTY are7831 / 7801 / 7745.
· Corrective Pull Back seems likely to be witnessed in the market.
· Market is graphically in a steep falling channel.
· Break of the channel should be followed by the 4th phase of consolidation.
· The consolidation prior to the 5Th phase decline will be time consuming but would be in a comfortable range.
· Basically, volatility will be witnessed at regular intervals till the 2nd corrective is completed
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