September months prone to profit booking but momentum looks positive. Here’s how to trade Nifty

Septembers are generally prone to profit booking especially if the two preceding months have had a rise of at least 0.5% each. However, a dragonfly candle formed in monthly chart points to bulls having upper hand as we enter September, having rejected several bear attempts, and broken free of their stranglehold, as is. Momentum indicators point to strength in trend, and could potentially pave way for large gains.

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