Bears rampaging Nifty Trade levels for 16 Nov

Nifty has been correcting 5 days in a row forming lower lows and as per SGX Nifty we will open around 5020-5030 levels

On daily charts Nifty seems to be doing the repeat 08 July as shown in above chart.

• It touched 200 DMA
• Started Correcting till 50 SMA
• Bounced back again to touch 200 SMA and finally collapsed as unable to breach for second time.

Scenario which has payed till now

• Nifty touched 200 SMA@5400
• Corrected yesterday till 50 SMA@5068
• We need to watch from today how it ...

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Rgds,
Bramesh
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http://www.brameshtechanalysis.com/

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