NIFTY
closed at 7641.40. NIFTY bounced, exactly as what we have expected. As we have
stated, we were trading around the support zone and we did not closed below the
support so a bounce was expected, it came today. Now the next thing we want to
see is
the follow up buying with good volume. Now our short term Stop Loss also
came a little bit up from 7500 to 7550. And before that, we have another
support of 7600 also. A sustained trade below 7600 will tell us to be alert for
any fall and tighten our Stop Loss. So one can initiate any longs in NIFTY with
the targets of 7720 and 7780 for very short term with a strict Stop Loss of
7550.
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