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Macronomics: A Lower Low on the Nifty, Which Seems Justified If You See The Macro Picture

We had a wild week on the markets in the week. Just as the markets recovered a good portion of what they had lost and we "reclaimed" the 8000 mark on the Nifty. However this seems to be a strong area of resistance. The Nifty has moved up from these lows twice before, and from below it will serve as a point of resistance. But what's more important is that this is a confirmation of the downturn:

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