Nifty has managed to close above its three months average for second day. Taking support at 5008. Close for 2-3 days above 5140 will lead to a rally upto 5400 and above. Close below 4980 can again lead to a correction. This time may be upto 4600 and lower. So trade with stop loss and avoid huge quantity.
Wednesday, April 23, 2008
Nifty view
Nifty has managed to close above its three months average for second day. Taking support at 5008. Close for 2-3 days above 5140 will lead to a rally upto 5400 and above. Close below 4980 can again lead to a correction. This time may be upto 4600 and lower. So trade with stop loss and avoid huge quantity.
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