NIFTY
closed at 7525.35. This is almost 8 days since last and life time peak of
7715.55 and NIFTY is constantly correcting by a small amount every day. It has
made a low of 7511 and bounced from there. Since long we mention that 7500 /
7480 is a very strong support zone. Even
after it is broken, one must
not go
short in NIFTY. Instead they can sit aside and wait for another buy signal. At this
point in time we feel that NIFTY might bounce from here or the support levels
mentioned above. If it bounces, one can go long fresh and keep a closing basis
Stop Loss of 7480.
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