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Nifty This Week: Technical Charts And More – Sentiment 'Shaken, Not Stirred'

Based on patterns, the market is signaling further declining intent. The intra-day charts through the week never held out any hope of a revival and if one had tried long index positions then it would certainly have been a very optimistic person. The fact that the Nifty hit the first indicated target at 17,693 and then fell off from there almost from the beginning of the week would have been sufficient to keep away from long index positions, writes CK Narayan.
Bank Nifty Nifty Financial Services Index Open Interest Reserve Bank Market Chart Technical Analysis

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