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Monday, May 23, 2011

Nifty Channel Play

I expect the Nifty to hit the lower trend line of that red channel or the Bollinger lower band. That should come somewhere around 5300. Only then I can be confident of any kind of Upmove.

We should note that the channel had been playing very well and Nifty has been bouncing off up and down after hitting the channel lines.


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