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Monday, March 24, 2014

24-3-2014 - NIFTY



            Tomorrow’s movement will be very crucial as what we assume. Even though all of us are feeling, assuming and wishing the market to come down and then go up so that we can get into the ride. But as we all know, market is supreme. It does not work our way. With so many indicators, showing the overbought zone, market is making a higher high. We mentioned earlier,
almost in every post that there is no indication of going short. You can go side line on any dip, but you cannot go short. And this has been proved to be true so far. Still market is strong. As we have stated, close below 6480 will force us to think about shorting opportunities and not before that. Close above 6600 / 6610 decisively will give a momentum on the upper side with a force to make a higher high. Instead of predicting about any specific levels on the upper side, keep a Stop Loss of 6500 / 6520 and ride the rally once it closes above 6610. Then one can trail the Stop Loss as the market moves further up.



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