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We may have formed a temporary panic bottom. Ever since 2014 Modi govt victory, Nifty has always respected 8000 as psychological level whether in bull market or bear market. If we consider Mondays low as panic bottom then high chances of nifty bouncing back to stiff resistance zone around 8500 Levels. For any further move above 8500, market may need a fresh positive trigger failing which we may fall back to 8000 yet again.These sideways moves may kill most of the active traders in form of bulls as well as bears in near future...

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