nifty moving down in sharp downward channel.. today done 50% fib near 16900 next fib 61.8% comes near 16600
Till its in falling channel.. bears power will continue... sell on rise till its below 17190...
FII is selling heavily.. and till they turn into buyers... no hopes for sustained upmove last rise of 18115 also came as FII did turn into buy just 2-3 days before the hdfc twins merger event over and they started dumping again..
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