Nifty continues to be in bullish mode with next target of 5405 which should act as a strong resistance. If this level too gets conquered then it should aim for 5712. However from 5405 onwards it should consolidate. The immediate support is at 5295 which if broken may take Nifty to 5140 and then 5035. Traders on the long side are advised to raise their trailing stop loss with each advance in Nifty.
Sunday, February 5, 2012
S&P CNX Nifty for the week 6th February 2012 to 10th February 2012.
Nifty continues to be in bullish mode with next target of 5405 which should act as a strong resistance. If this level too gets conquered then it should aim for 5712. However from 5405 onwards it should consolidate. The immediate support is at 5295 which if broken may take Nifty to 5140 and then 5035. Traders on the long side are advised to raise their trailing stop loss with each advance in Nifty.
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