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Nifty headed to 6050-6100 or 5700-5750 levels in near term? Read on

Posted on: December 21st, 2012 at 3:15 am

Click on the chart to enlarge.

Nifty: Technically Nifty does look strong and is in a long term uptrend. After recent rally, nifty has been consolidating in the 5950-5820 zone since last week of November. A close below 5820 could take nifty to lower levels of 5700-5750 where again strong support comes in. A close above 5950 can trigger another 80-100 points upmove. Trades in last few days do indicate buying interest coming in at lower levels.

Nifty resistance support

Nifty resistance support

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2 Responses


  1. SM Says:
    December 23rd, 2012
    Posted at: 11:37 pm

    Dear CB, Kartik : If possible please tell me who did draw the trendlines in this chart ???

  2. tejinder singh Says:
    December 24th, 2012
    Posted at: 5:51 pm

    no fundamental,no eps, no long term investments,all share manipulated by big player
    it is my conclusion with 20 year experience.remember always before investments

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