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Monday, October 3, 2011

Nifty update--4th October

This pattern looks like a continuation pattern. MASSIVE  MASSIVE  resistance at 4910. SO one could enter shorts here . For a target of 4790. As said yesterday , we could hit that parallel channel at around 4800 or go lower to HIT that RED trend line at around 4760. At 4865 , nifty is close to he resistance level 4910, one could take risk . The expanding pattern is being continuously HIT.

To all those who shorted on my advise yesterday ..Congratulations. And to all those who shorted today also , ....................congratulations.

Now look at the below chart . All the short term oscillators are oversold. I think we can enter a BUY NIFTY position here. Remember , the larger trend is BEARISH . So BIGGER short positions , and slightly smaller when going LONG. Will go long here . WIth STRICT stop LOSS.

 Remember , MASSIVE RESISTANCE at 4910.


----DEXIA , Belgian BANK, the MOST INSOLVENT BANK in the world, is in news  with its share prices down 20%.
----Italy almost 100bps wider than Spain in five-year CDS (482bps vs 389bps,
---- South Korea's vice finance minister says G20 discussing ways to boost liquidity in markets***

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