Beaten down Nifty trying hard to get up. Will need a lot more to get the strength to start an uptrend. The last gap made on 19th which recorded the low of 1796 has been closed. This gives a good chance of rallying upto 5229 which is the high registered on the earlier gap down day on 5th August.
Retracement levels and trendline resistances marked on half hourly chart shown below.
Half Hourly Chart
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