NIFTY
has closed at 7591.65. Exactly as we have stated, break above / below, will
give 100 / 200 points. It broke 7650 and went almost 100 points down at 7560
and bounced back and closed at 7591.65. These are the support zones. If these
levels are broken and closed below, we might see more down fall. Breach of
level in intraday trade
and closed above these levels might lead us to a
bounce. The intensity of the bounce is of course unknown. But a bounce is what
we expect. And one can initiate a long position for a very short term period
and of course with a very strict Stop Loss of 7500. Sustained trade below 7500
for half an hour will force us to exit all the longs from NIFTY. Please keep
these levels handy and trade safe.
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