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Wednesday, June 5, 2013

Nifty between lines

Just like the nifty gave accurate touches of the blue line during the rally, this volatility is being done within the boundaries of the red lines. Perfect touch of the lower red line, short term indicators like CCI(8) are oversold and showing divergence ; we should expect a hit at the upper RED line . Minimum expected from this up move is 6050 area in Nifty futures.

This is not the start of a big rally though . I am expecting BIG bearish session to begin after this up-move.

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