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Wednesday, December 12, 2012

Analysis of NIFTY: 12-December-2012

Today NIFTY did exactly as per our opening bell. The index opened positive and resisted just below golden ratio of yesterday's fall at 5927. It signifies today's movement was corrective to the yesterday's fall of 100 points. So, logically we may see some selling pressure in NIFTY. Now, how much it may correct?





As discussed in yesterday's EOD analysis below 5870, NIFTY may correct upto 5830 and staying below that level 5805, 5780 are the levels to watch.

We may think of up-move only above 5930.

Wish you happy trading !!

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