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Sunday, January 5, 2014

NIFTY



NIFTY is again started trading around our star level 6240. Today it broke, in an intraday trade but recovered a bit and closed at 6251.75. A clear cut weak trend is seen today. But to be in a safer boat, we have to sell NIFTY only below 6240 / 6230 with 25 points Stop Loss.


Between 6240 & 6320 there will be no trade. if goes below 6240 we may Sell NIFTY with 25 points Stop Loss and we may Buy NIFTY above 6320 with again, 25 points Stop Loss. Whichever way it moves, we have to trail the Stop Loss and ride the gains. If goes
below 6240 and closes below, we might see the targets like 6150 & 6000. If trades above 6320 and closes above that, then again 6380 6420 kind of levels can be seen. There is a very strong and stiff support between 5970 & 6000. And a strong resistance is at 6420. So just keep in mind & trade well



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