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#1
21st June 2006, 09:05 AM
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Nifty current analysis - UP or DOWN ahead?
Here is a chart analysis which shows though a trend reversal has occured at around spot 2800 level but a clear uptrand may start only if it closes above 2957.35.
Look at the attached chart and comment please. Thanks. Last edited by takechance; 21st June 2006 at 09:11 AM. 
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#2
21st June 2006, 05:20 PM
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Re: Nifty current analysis - UP or DOWN ahead?
Chart updated after today's market close. Nifty should close now above 2954.12 for new bullish trend.
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#3
23rd June 2006, 05:32 PM
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Re: Nifty current analysis - UP or DOWN ahead?
As forecasred Nifty is seeing a bull run after 2957 level.
See the updated chart which shows it is just very close to 38.2% retracement level. If this level is crossed then a major rally is expected otherwise expect a short consolidation in next few days. Cheers.
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#4
26th June 2006, 06:02 PM
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Re: Nifty current analysis - UP or DOWN ahead?
Exactly as predicted Nifty could not break the 38.2% level upside and started falling. See the latest updated chart.
Long position has been closed at the end of the day.
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