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Nifty: Another sideways day

Mohit Gaba | Published: 03 Aug, 2012  | Source : | Follow Author | Add to my Favourites

NIFTY view for 3rd August 2012

NIFTY (5227.75)
The Nifty traded in a 30 point band the whole session. After seeing it move up and working hard to hold on to these high levels, the upside is limited. The Nifty might move higher, but odds are that a downward break is more likely, as the analyst has been mentioning there has been little support from the Bank Nifty in the recent up move. The analyst has gone short on Bank Nifty, a very aggressive and a high risk trade, but says he believes that it could have a good payoff if it works out. If one wants to assume short positions one could go short on the Nifty with a stop loss at 5250 – 5270 zones. Also note that technically the Nifty is still in an uptrend and a down has not been confirmed  

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About Mohit Gaba


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Disclaimer: The author has taken due care and caution to compile and analyze the data. The recommendations are his/her personal views. He/she shall not accept any liability whatsoever arising from the use of any of the above content.


Sources have been mentioned at relevant places in the article. In spite of this, the author does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information.

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