Nifty may bounce back for few days

 

After continuous 5 days of loosing days, yesterday (02-Nov-2015) Nifty retraced from days low 7995 and managed to close above 8050. The interesting fact is yesterday Nifty retraced back during the last few minutes of the trading session. Short bounce back is expected for few days. 

Candlestick Patterns : Hammer pattern indicates a short term reversal is expected.