Wednesday, September 29, 2010

Nifty Trading well below the crucial level of 6040 and made a lower top today

Earlier we have given 6040 as a crucial. It was stated earlier it would be bullish above this level. But, in contrary to the expectation, Nifty is trading below that level. And also today, it reacted sharply from its earlier high of 6073 which is a bearish sign. In the downside a break of 5990 would foretell a correction towards 5800 in coming trading sessions. One can go short below 5990 with a stop 6040 for a target of 5800 in coming trading sessions.

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