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Monday, October 20, 2014

20-10-2014 - NIFTY ( Futures )




                NIFTY has given a close at 7897.25. We had a huge gap up today, with a close of 1 % gain. This indicates a rally from the oversold zone. Even though it was weak and we were expecting further down move of another 100 / 150 points, NIFTY bounced back. A long position
can be initiated for the higher targets near / above all time high of 8200. A closing basis and very small Stop Loss of 7850 will be working good for the time being. So basically we are caged between the range of 7850 and 7950. We can expect a very good fire work on the upper side, once it crosses and sustains above 7950. Close below 7850 will tell us to exit the long positions in NIFTY. Keep these levels in mind and trade safely.



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