December 29, 2008

29-12-08

This is for education purpose only and may not be useful for trading

Trailing stoploss for short positions remains 2970.
Buy signal will be generated if markets close above 2970 tomorrow.
Watch RSI trendline on EOD charts for support.
Contrarian view: as nifty is trading within channel, a pullback is possible.
Also, nifty is nearing oversold levels on hourly charts (RSI). The region at2800-2850 will provide strong support.

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