Wednesday, November 24, 2010

Nifty short term trend is down

Short term trend in Nifty is down. We have broken 5950 which was an important support zone for the last couple of months. We are near 50 day MA so it is expected to be volatile here. There is a massive fight going on between bulls and bears. Short term traders can short at 5950 with 6050 as SL and target of 5500. The Dollar Index may be in for an upmove which could result in equities in India heading downwards.

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