Market View: The whistle has blown!
NIFTY view for 10th February, 2012
The Nifty has finally broken out of the psychological resistance of 5400 after trading the whole session in that 80 point pressure cooker band for four whole trading session proving my positive bias correct. As I mentioned yesterday “a trend is assumed to be in motion until proven otherwise”, and in this case it wasn’t proven otherwise. The Bank Nifty has broken out with even more force supporting the Nifty break out strongly. Hence long position should continue to be held with a stop below 5338. If one does not have long position one could initiate fresh longs at open tomorrow with a stop at 5338.
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