Nifty started on gap up note and remained choppy throughout the tradingsession. On the higher end it failed to sustain above 8050 which trigger for acorrection towards 7980. In the daily chart RSI is in bullish crossoverwhereas Stochastic is bearish crossover. In the daily chart an engulfingpattern has formed which suggest a bearish trend reversal at the end of anuptrend. On the lower end supports seen at 7970/7935/7880; on the higherend resistance seen at 8065/8115/8160.
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