Monday, December 8, 2008

Nifty resisted at 2860, falls after -ve div..to correct

BULL: If 2710-2690 holds and Nifty takes out 2860, higher levels may be seen.
OR..Nifty corrects from here or after a bounce to 2800-2820 and falls to
2640-2600 level and rally again.

Bear:If Nifty closes below 2690, may fall further to 2640/2570 and more down as the last leg of the down move.

Preferred: As per the price & technical indications..correction may hold 2700 levels and higher levels will be seen.
Strategy: Sell near 2800-2830 levels with SL 2860 and buy near 2700-2690 with Sl 2644.(Sell/Buy as per the opening levels)








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