Saturday, April 29, 2006

ENTER IN THE LONG SIDE, STOP 3485

29, April
Nifty 3508.10

A sharp move above 3350 region would confirm that Nifty has bottomed out. Further, if this region is crossed, it would move towards 3600. And without any major downside correction, Nifty would clear 3600 region in coming trading sessions.

Instead, if Nifty trades below 3485, then it could slide towards 3450 region. In that case Nifty should not break 3430, if it has to bounce back.