Sunday, April 15, 2012

Monday oulook

Nifty weekly is still trading above middle line of the channel. and most of the time it has traded around the upper trend line. If we exclude previous week trade because of only three day trading then last week was second week to trade only in around 100 point tight range since November 2011. One can easily expect violent movement of around 300 point above the trend line joining Feb high to last week high or 200 point down 200 SMA if close below 5145.

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