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Sunday, December 19, 2010

NIFTY SPOT WEEKLY & SHORT TERM TRADING STRATEGY AHEAD >> 20/12/2010 >>

ONCE AGAIN NIFTY IS TRADING IN A TIGHT RANGE & OUR SENTIMENTS STILL REMAINS THE SAME "BEARISH" !! LAST WEEK WE HAVE WITNESSED A PULL BACK RALLY FROM THE LOW 5721.15 TO 5956.15 ..STRAIGHT 235 POINTS FROM THE LOW & CLOSED @ 5948.75. ABOVE OUR WEEKLY RESISTANCE LEVEL 5918 & SHORT TERM RESISTANCE OF 5936.40 ...BUT THIS DOESN'T MEAN THAT NIFTY IS BULLISH RATHER WE ADVICE OUR TRADERS TO USE THIS OPPURTUNITY TO SELL ON RISES FOR THE BELOW GIVEN TARGETS >> 
              WEEKLY LEVELS : BEST BUY 5894 RESISTANCE @ 5917.50..A BREAK ABOVE THAT TARGET IS 5994.80/6018.60 (limited rally)...HOWEVER A CRACK BELOW 5882 SELL IT FOR A TARGET OF 5816.40/5792.60
  SHORT TERM LEVELS : BEST BUY 5854 RESISTANCE @ 5936.40..A BREAK ABOVE THAT TARGET IS 6202.50/6284.70...HOWEVER A CRACK BELOW 5836 SELL IT FOR A TARGET OF 5588.10/5505.10 (much expected target)...
            CMP - 5948.75

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