#NIFTY50 View for 5th Aug

NIFTY We see Nifty cycle from April low have ended, and currently correcting the rally. The first leg of the rally seem to have ended and currently should bounce in 3 waves higher and should potentially reverse for one more leg lower.And where it can find some potential buyers. We don't recommend Selling.

Some stocks are showing potential reversal signal like INDIANB Indian bank, PIDILITIND Pidilite, TATAPOWER Tata Power, TATASTEEL Tata steel to suggest the above view.