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Nifty View
The Nifty has formed higher top and higher bottom on the daily line chart, which indicates bullish trend reversal for the short term. Nifty has closed above its 5 days EMA, which is the first sign of trend reversal.
Traders are advised to go long with 16,900 stoploss in the Nifty. Target for the Nifty is seen at 17500 for the next couple of weeks. FII’s have been heavily short in index future for last two months. Long to Short ratio by FII in Index Future reached to the oversold zone and therefore we can expect sharp short covering in
