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So .... the uptrend is on. Initial target at around 8450 to 8470. (Please refer to our previous post).

Once the ongoing downside move is over, public sectors bank may lead the rally. An intermediate term bottom might be made in next two to three days. Possible zone for bottoming out for Nifty : 8125 to 8165

Weekly view of Nifty starting 5th May 2014
http://www.icmamonitor.com/?p=4357