NIFTY has retraced. Exactly as we
have expected. We have advised yesterday, not to take any fresh longs in NIFTY,
unless it crosses and closes above 6320 / 6340 zone. It did not crossed even
6300, as expected and mentioned.
NIFTY has closed at 6239.45. Exactly
at a minor support. It is quite possible that NIFTY
break the support and go
further down. In case of breach of 6235, there is a strong support exist at 6190
/ 6180. Yet, trend reversal is not indicated and we must take it as a
correction of an ongoing uptrend. The levels for any short position or any
recommendations will be provided, as an when it is required.
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