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Viewing report
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Alpha India Indices - NIFTY at True Trendline Supports
Orpheus Capitals, Aug 2011, Pages: 9
NIFTY Weekly.
Prices have failed to break 5,900 and are now retesting true intermediate trendline supports near 5,500-5,400 levels, while the Elliott structure looks like the beginning of the larger (Y) wave down. Even the subminor bounce from respective supports looks corrective and unsustainable. Sub 5,400 we should see further intermediate negativity till previous lows at 5,200 or even till lower targets at 5,000-4,800 levels.
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