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Nifty has shown a minor bounce-back on Monday, partly due to oversold situation and short-covering ahead of August expiry on Thursday.
A study shows an 80.70% probability for Nifty to test 5077 ahead of expiry. Hence, investors can initiate long positions on after Cross above 4940 it acts as a strong resistance and above 4940 can expect a huge short covering .
Bank nifty at 9400 In candle stick a reversal pattern is seen so it can bounce up to 9920 in shorter , It’s is the first time after a long time Reliance the trend decider of Sensex is also supporting the market to move NorthA study shows an 80.70% probability for Nifty to test 5077 ahead of expiry. Hence, investors can initiate long positions on after Cross above 4940 it acts as a strong resistance and above 4940 can expect a huge short covering .