Friday, December 5, 2008

December 5, 2008, Nifty

In yesterday's sharp upmove, Nifty went above its 5-SMA. The next target is the previous high of 2832. Asia is flat this morning, so we expect a flat opening.

Trading strategy: If you went long yesterday, keep stop loss at yesterday's low of 2646.
Supports: 2570, 2502
Resistances: 2777, 2832
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