NIFTY CLOSED AT 7275.50 ON 20-5-14
Index is closing higher for the last 9 trading sessions and on closing basis it is up by 615.65 points ,therefore it now looks highly vulnerable for a down correction on closing basis and the correction may start tomorrow and it could give lower close , because today the index closed near the lower range of the day,and if it remains below 7275 on 21-5-14 down correction could set in and it may last for 2-3 days and going down it will find good support at 7245 / 7215/ 7130 / 7101 /7067 /7020 levels and could possibly bounce back from the level of 7067-7130 level.Sooner the correction it will be good for the market.
REMARKS:-Long term trend is up but be cautious on long trade for some time because the down correction on closing basis could set in any moment.Please note that it is buy on dip market for sure. DO NOT TRADE WITHOUT STOP LOSS.
Index is closing higher for the last 9 trading sessions and on closing basis it is up by 615.65 points ,therefore it now looks highly vulnerable for a down correction on closing basis and the correction may start tomorrow and it could give lower close , because today the index closed near the lower range of the day,and if it remains below 7275 on 21-5-14 down correction could set in and it may last for 2-3 days and going down it will find good support at 7245 / 7215/ 7130 / 7101 /7067 /7020 levels and could possibly bounce back from the level of 7067-7130 level.Sooner the correction it will be good for the market.
REMARKS:-Long term trend is up but be cautious on long trade for some time because the down correction on closing basis could set in any moment.Please note that it is buy on dip market for sure. DO NOT TRADE WITHOUT STOP LOSS.
NOTE:-1.PRICE STATED HERE IS OF
SPOT MARKET.
2.RECOMMENDATIONS
ARE VALID TILL THE STOP LOSS IS TRIGGERED.
3.IN FAVORABLE TRADE TRAIL YOUR STOP-LOSSES
FOR MAXIMUM GAIN AND CAPITAL PROTECTION.
Contact me for strategic guidance to enter and
exit the trade
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