We expect a gap down on Nifty by Monday towards 8765 then a pull back towards 8860 then a sharp sell off towards 8560, below 8550 we are expecting nifty to drag towards 7900.
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Nifty open well below our expected level of 8765, now 8765 act as a stiff resistance only above 8765 we expect some kind of rally towards 8850 otherwise 8560 is the next possibility.
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Nifty Bearish Island Reversal pattern in Today Daily Chart, An island reversal is a reversal pattern that forms with two gaps and price action in between the two gaps. These gaps tell us that the island reversal marks a sudden, and sharp, shift in direction.
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Nifty As expected near 8850 spot, now short the pull back.
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High 8847 now low 8750 sharp fall .
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Nifty Look like a Butterfly pattern Target 8613 . Invalid above 8830.
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High 8826.85 not breaking 8830 and now 8766 .
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Cypher developing Short
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Low 8838
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Low 8780 expecting 8730 in this leg of down side.
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Low 8735
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Nifty potential Gartley or Butterfly patterns developing Target 8640 and 8540.