NIFTY CLOSED AT 7276.40 ON 22-5-14
Nifty closed lower on 21-5-14 at 7252.90 and higher on 22-5-14 at 7276.40 ,so it had made a short bottom of 7252.40on closing basis and 7206.70 on intraday basis,now if it closes below 7252.40 it will indicate further correction and finally if it breaks 7206 and stays then deeper down correction may happen .
REMARKS:-Long term trend is up but avoid long position if it closes below 7252.40 because then further correction may set in.
Nifty closed lower on 21-5-14 at 7252.90 and higher on 22-5-14 at 7276.40 ,so it had made a short bottom of 7252.40on closing basis and 7206.70 on intraday basis,now if it closes below 7252.40 it will indicate further correction and finally if it breaks 7206 and stays then deeper down correction may happen .
REMARKS:-Long term trend is up but avoid long position if it closes below 7252.40 because then further correction may set in.
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ARE VALID TILL THE STOP LOSS IS TRIGGERED.
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