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Monday, December 21, 2009

(1) Nifty Chart For 21/12/2009 ::


Nifty :: First breakdown of rising wedge after multiple top of 5182..Still hold above midterm rising trend line, with short term oversold indicators. As far as Nifty close above 4978 nothing to worry for bulls.. May be on Monday Nifty try to bounce from strong support zone 4965 to 4935..Be careful in shorting at lower level. Our strategy for 21st Dec buy on deep (S.L 4935) Sell at high (S.L 5045).. Resistance for up move at 5023/5045/ 5055/5067/5080/5104.. Supports at 4965/4949/4935/4880/4860..

(if Nifty break 4965 and given close below 4978 then may be we see sharp correction in coming days, till then go with trend buy in deeps sell at high)

Posted by MY CHART at 12/21/2009 01:40:00 AM

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