Nifty opens with a good gap-up on Friday amid a pull-back in crude oil prices overnight and receding trade tensions between the United States and China, but increasing hopes of bulls are not enough to sustain for a long in absence of a constructive outcome to finally end tariff trade war. On analysis of the movement of Nifty 50 in different time frames in the following charts during the first one hour, I find that this gap-up move seems to turn into an exhaustive candle even today as the current level of Nifty is evident enough to attract fresh shorts.
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