NIFTY
is trading in a range. Close is at 6160.85. today’s close is as flat as
compared to previous day. I had mentioned two supports in previous posts. First
is 6180 & 6160. On both days it closed almost on the supports. There was a
question, that how long these supports will hold. Still the
question remains unanswered.
Tomorrow we have RBI policy and then Fed meeting on 19th Dec., 2013.
I hope, after these events the movement & behavior of market will be clear
to trade. Personally I feel that 6000 will be proved as a strong support. I think,
buyers with caution, will be benefitted. Close below 5970 will be the first
step towards down trend. Close above 6240, the journey will start towards new
highs.
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