Profit booking continued. NIFTY may see further weekness.

On Friday 14th Dec NIFTY gap opened higher but failed to sustain at 8450 level and sharply came down to find support near 8410-20 level. This was anticipated because we spotted a bearish anomaly on the previous day. NIFTY closed only 7 points lower but we don't see any reason to go long now because no bullish divergence appeared on the SMT chart. The weekness may persist today.

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