My post last Sunday - 9th August needs no further explanation, and Nifty has behaved exactly as per that road map. Watch out if Nifty futures opens below 4470 and stays below it - it is a sort of Island reversal which can have extremely bearish implications.
If it does not open below 4470, but below 4515, it will face resistance at 4515, and a close below 4515 is bearish too.
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