NIFTY
has closed at 7691.45. NIFTY closed in red with 1.0 % down bar. Yesterday it
has broken the range mentioned in earlier post of 7650 and 7750 and closed
above the upper range. Today again it came down and trapped in the range and
not sustaining the breakout. This is not a very good sign for bulls, of course
for short term. There is
no change in the levels and targets and Stop Losses. A
sustained trade and close above this range can take the NIFTY to higher levels
while the break below 7650 can make NIFTY very weak. One must keep a closing
basis Stop Loss of 7650 for any longs in NIFTY and on the breach and close
below7650, one must stay aside with no trade in NIFTY. Further levels to trade
in NIFTY will be provided here, time to time. Till then, trade safe.
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