Wednesday, November 5, 2008

November 05, 2008, Nifty

Yesterday, Nifty opened gap down but recovered to close the day strong. Asia is up this morning so we expect the Nifty will open up. The Nifty has a good chance to take out 3254 today. If it does then we could see the rally consolidate, then gain momentum and go all the way to 3800.
Trading strategy: Play for supports/resistances breaks or bounces
Supports:3017, 2871
Resistances: 3254, 3519
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