Minor correction in NIFTY indicating more bullish strength in near term

On Friday 6th Dec NIFTY failed to maintain the bullish momentum it gained from the breakout on 5th Dec and closed 30 points lower at 8244. However, the SMT is clearly now indicating a strong Hidden Bullish Divergence which ensures further upside in the near term. We were neutral in our positions earlier and after this formed divergence we are bullish on NIFTY with long in futures and short in Jan 8350 calls.

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