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Sunday, July 27, 2014

27-7-2014 - NIFTY



            NIFTY has given a close at 7785.70. The day is bear and did not cross previous day’s high. But it did broke yesterday’s low. NIFTY has made a high of 7817.85 on 8th of July, 2014 and on 25th, July 2014, it has made a high of 7839. So we can say that it was almost a double top kind of pattern confirmed. Please remember, there is no strong signal for going short in NIFTY but definitely
a signal of caution has emerged. So for long traders nothing has changed as long as Stop Loss levels are concerned, but yes fresh long traders must not enter into any fresh longs in NIFTY unless it makes a new high or they can enter into any trade with a strict Stop Loss of 7705. Breach and close below 7705 will tell us to sit aside for a while and wait for another strong signal to enter into any trade, whether short or long, till then please remember the Stop Loss and trade safe.



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