NIFTY as we have stated, a hurdle
was there at 6820 and 6840. It just touched 6799.65 and came down with a minor
profit booking. As we are trading on the highest band of price, profit booking
movements are quite natural and inevitable. Those movements are bound to come
periodically and with a quite fierce momentum. But please note that unless
it
closes below 6580 on weekly basis, the trend is strong and might touch much
higher levels than it is now. For traders again, the levels will be same, go
and buy on any dip, 6700 will be Stop Loss on closing basis for fresh longs and
6580 / 6600 will be a closing basis Stop Loss for old longs in NIFTY. Please position
yourself accordingly.
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