NIFTY has closed at 7300.60. Again,
a very flat close. Again, a range bound session. Still the level of 6900 is a
very strong support for the time being. This level can be treated as a trend
reversal level. Breach and closed below this level, will open the doors for
further down levels. For the time being, one must buy on dips. Any sharp panic
will produce
a buying opportunity. 7050 must be treated as a short term Stop
Loss. Net bias is positive and one should avoid any short trades. Just leave
this area for the professional traders. Rest can buy on dips, of course with a
strict Stop Loss.
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