nifty has almost retraced 23.8% of the high it achieved in jan-08 and therefore if it able to sustain above the level of 3210 it might even retrace to 38.2% levels that is around the 3800 mark. Nifty in the short-to- medium term is bullish with the 8 day moving average going above 13 day moving average on 17th march
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