Nifty spot View (28/X/13 - 01/11/13)
In weekly charts Nifty has given signals for weakness as it was not able to close above 6256 level. A close above 6256 may take Nifty up to life-time highs levels. The upside targets are 6184, 6256, 6290,6338-6357. A weekly close above 6360 can take Nifty up-to 6578 & 6680 levels but for that a very strong flow of positive news is required, which I personally don't see in the near future.
Short positions must be initiated at 6250-6260 levels with stop-loss @ 6270 on closing basis. The targets are 6069, 6042, 6024, 5888, 5867.
In weekly charts Nifty has given signals for weakness as it was not able to close above 6256 level. A close above 6256 may take Nifty up to life-time highs levels. The upside targets are 6184, 6256, 6290,6338-6357. A weekly close above 6360 can take Nifty up-to 6578 & 6680 levels but for that a very strong flow of positive news is required, which I personally don't see in the near future.
Short positions must be initiated at 6250-6260 levels with stop-loss @ 6270 on closing basis. The targets are 6069, 6042, 6024, 5888, 5867.
Our short trades have been triggered @ 6252 with stop-loss @ 6270 on closing basis.
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