January 07, 2009

Nifty eod Chart, 07-01-09

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


3040 breaks forcing an exit of the buy signal. This was anyway expected to be "unreliable".
Today's price action creates a top at 3100-3140 levels AND generates a sell signal.
Crucial level is 2800 (give or take 20 points). Weekly charts will give sell if this
level is broken on Friday.
Trading strategy: short on any bounce or 50% retracement SL 3150.

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