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Above 4586, Nifty could head towards 4650-4675:FinQuest Sec

This article was posted on Jun 4, 2009 and is filed under Market Outlook

According to FinQuest Securities’ report, above 4586, Nifty could head towards 4650-4675 levels for the day and towards 4800 incoming days where as a breach of low at 4450 would lead to a fall towards 4370 for the day and towards 4300/4200 in coming days.

FinQuest Securities’ report:

Nifty saw another day of strong fight between the Bulls and the Bears leading to a formation of second consecutive Doji within the prior Doji range.

A breach of Outside Doji high low at (4586/4450) woulddetermine the direction for the coming days.

Above 4586, Nifty could head towards 4650-4675 levels for the day and towards 4800 incoming days where as a breach of low at 4450 would lead to a fall towards 4370 for the day and towards 4300/4200 in coming days.

Thus Nifty is at a crucial juncture. Our bias is on the downside.

source: MOneycontrol

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