Purvil-kanadia
Short

Nifty retraces from 50% fibonacci level

NSE:NIFTY   Nifty 50 Index
Nifty formed a bearish candle from 50% fibonacci level. A short pullback can be expected. Also, the stochastic indicator showed a bearish divergence further showing the possibility of a pullback.
Entry: 520
Target: 500/495
Stoploss: 530
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