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Market at short term support 13380-13400. Bounce back to 13500 above possible. Avoid short selling.

 Nifty after testing new high yesterday, today facing minor profit booking.

Currently, nifty took support at minor support zone 13380-13400 in the opening hour.

Bulls holding short term support zone means, we can expect pull back rally to 13500 above from here.

Upside trendline resistance at 13580-13600. This trendline slopping upward so resistance level can increase more day after day.

Keep strict stop-loss to long positions below 13380 spot. for higher targets.

Unless nifty close below crucial support 13200, avoid short selling.

Regards,

Suryadev Bandari

Research Analyst.

www.earningwave.com


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