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Friday, September 7, 2012

Nifty UP

So got the upmove that I was waiting . And how do I play this. I have taken off my longs. Below is a daily chart with 21 day Bollinger band. Mid BB level should provide resistance.

Below is the 5 hour chart with 21 period BB.  Nifty Futures hitting upper level, that is even a better info that we should not go higher from here without going lower.Stiff resistance this upper 5 hour BB level always. Should not cross at the first attempt.  I think we will get NF near the mid bollinger level at 5295 area to BUY again. May be on Monday .

Booked my longs and waiting . Monday looks to be a buy again at some lower level. 

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