Half Hourly Chart
Today's daily candle resembles an invereted hammer candle pattern which is bullish.Yesterday's downward gap closed.Yesterday's low was maintained which has broken the lower low streak of the last 9 trading sessions.Nifty is oversold too which supports short term pullback.
However the pullback could be weak as the Nifty could not even attempt to scale the last peak at 4954 thus making a lower peak at 4922.The 5/20 got whipsawed again.Only a move and close above 4958 can get the bulls to stage a pullback.
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