Nifty has broken out of a descending channel from November 2010. This is a bullish sign. For this breakout to be confirmed has to remain above this channel for the next few days. Nifty has also crossed its 200 Day Moving Average. FIIs are buying in huge volumes daily. All this smells bullish to me. Perfect time for a bull run while the world is worried about Europe. So its time to go long if you aren't already. 5000-5100 would be a good place to keep your stops.
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