Nifty closed at 7631.70 on 17-6-2014
I expected the nifty to complete down correction by 18-6-14 and in the range of 7380-7450 , it made a low of 7487.55 on 16-6-14 (see my post dated 13-6-14) and today,s move indicate that the correction may be over,if it is so then it should not go close below the short term DMA which is placed at 7595 &7575, for 18-6-14, if it does then the other major supports exist at 7563.50 (For the month of June-14) and 7487.55(Recent bottom made on 16-6-14). Kindly note that now any close below 7487.55 will trigger fresh and deep correction in the nifty ,chances of which are looking weak now,therefore the base level support for nifty is at 7487.55 for now.
REMARK:- It seems that correction may be over but watch out for close above 7656.40 for further confirmation .
NOTE:-
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