Nifty formed an interim bottom at 4720 and rose to 5170 levels. It seems to be a range bound market in the following week. As long as Nifty futures holds 4900 one can buy on dips. As per time cycle Nifty should form a bottom around 20-23 rd of September and form a top during 27-29 th of September and Nifty could rally maximum up to 5200-5250 by the end of September.On the downside if Nifty breaches 4900 before 29-30th of September there is a higher probability of Nifty testing the bottom of 4700 and could touch 4650-4600 levels. In a nutshell as per time cycle and price and volume data it suggests that if nifty could not hold 4900 it could slip further and a recovery to 5200 seems to take some more time.Nifty could probably expire maximum at 5200 or below in September series.Watch out for the daily forecast of Nifty everyday
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