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#Finnifty directions and levels for JAN 12.

Nifty Financial Services Index (NSE:CNXFINANCE)  
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NSE:CNXFINANCE   Nifty Financial Services Index
Harmonic Patterns Chart Patterns Elliott Wave finnifty finniftylevels finniftytargets finniftyintraday finniftyanalysis finniftyintradaylevel finniftykeytradinglevels
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harmonicpatterns chartpattern elliottwaves finnifty finniftylevels finniftytargets finniftyintraday finniftyanalysis finniftyintradaylevel finniftykeytradinglevels
Finnifty has been following the banknifty structure. There is a sub-wave 4th (expanding diagonal). So, if it opens with a gap-up, there might be an undergo a 5th sub-wave. It may reach a minimum of 21,424 or 21,470; after that, if it rejects sharply around there, then we can complete sub-wave 5th and anticipate the correctional (ABC) wave. However, if the market sustains or consolidates around there, then the 5th might extend.

Bearish aspect: If the gap-up doesn't sustain or if it opens with a gap-down, it may take a range market structure. Alternatively, if it breaks the previous low, then we can expect correction continuation.
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