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  • Writer's pictureEkat

Nifty50 Stock Price Analysis for 8th December 2023

We wanted some pull back and we got a minor one which got recovered as well.

What is Nifty50 upto?

Nifty50 not giving up so easy. But when market opened, buyers were in panic to certain degree. Prices are showing that there is some sideways action, can this be internal 4th wave and more upside is pending?

We are going down to complete a wave structure that is pending. If we don’t pull back then there can be a massive crash build up at some point.

If you look at 15 min chart, the last part of the trade was ended in green, with CCI and RSI both cooled off there can be some upside. However I am waiting for some good levels to catch. Are you trading daily or waiting patiently for some nice build up?

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What are we looking at:-

  • Price action needs a level below 20800 for a demand level

  • 20493 is a good level at the bottom from where prices can go up

  • If this continues going up then buy zone is only after current swing high to open new levels of trading later

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