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Monday, December 10, 2012

Analysis of NIFTY: 10-December-2012


Today Nifty traded within narrow range of 32 points, but has left enough clue about tomorrow's move.





The 30 min chart clearly shows NIFTY closed above all major EMA's at 5908. RSI is oversold and is prepared to move up. CCI is also ready for the up-move. So, the possibility is there, that NIFTY may move up tomorrow.

On the upper side 5930/5950/5980/6040 are the levels to watch out.

Daily indicators are over bought along with weekly indicators. So, it is advisable to stay cautious at higher level.

Buy the dips should be strategy for trading right now until any clear reversal sign is visible.

Today our free call on Federal Bank did exceedingly well. You are requested to visit Nifty Pulse Page for free calls and updates during market hours.

Wish you happy trading !!

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