Sunday, August 25, 2013

Nifty Weekly Analysis :Nifty in No Trade Zone for 26 Aug 2013

Nifty Weekly Analysis :Nifty in No Trade Zone for 26 Aug 2013
Nifty Weekly Analysis:
Nifty was in strong downtrend before Monday 19th August 2013.It closed at 5456 in previous week .But a reaction to severe downtrend was always expected.Last week it touched low of  nearly 5250 and recovered nearly 200 + points from that.
For Week starting Monday 26 Aug 2013,Nifty is not out of woods yet.It has resistance at 5500 and 5672.
Supports are available at 5431,5412 and 5250.
My take at Nifty:
If nifty manages to stau above 5500 for Some time,buy it with appropriate stop loss.
If it slips below 5412 ant stay below it for some time short it with appropriate stop loss.No trades if Nifty Stays between 5412 and 5500.
Happy trading 

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