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Friday, June 15, 2012

Nifty ::Breakout ahead

Though i was expecting did not come the price action looks heavily bullish to me. We could go as high as 5404 in June. In previous uotrends 8 SMA gave support to price in congestion zone.. This time too 8 sma gave support and pushing Nifty upwards in great speed.

Ascending triangle like form in this congestion zone.

I have a target of 5380 by June 21st  taking into account a previous similar pattern. Lets see.

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