Nifty Analysis based on data for last 6 months daily chart.
Prior trend is downwards and today it has formed a Hammer pattern. The low of the hammer found support at trendline drawn from August End. This should be the end of the correction that we have been seeing since last week.
RSI is also moving up from oversold area. So, another bullish confirmation.
MACD is still under the signal line.
Overall, my view is Bullish. It should move up in the next session according to this chart.
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