Nifty is ripe for a correction - 23 August 2014

The present short term rally started on 8, August, 2014 from 7540 levels. At present it made an all time of 7929. Nifty is just below a major resistance at 7955. And it has already broken the trendline in the downside. If Nifty couldn't rally above this level, it is likely to see a correction from this level and in the downside it could test 7750 in coming trading sessions.


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