Keep sl of 5742 and go long......it signals reversal..lets see
As said nifty done its tgt....now spot 5792 very important..close below that not a good sing.....cmp 5826
Monday, November 29, 2010
For 29 Nov 2010
Highly oversold position of NIFTY will take it in between 5840 to 5945.Both points are major resistance.If not crossing 5840 nifty may touch 5557 level-of course this is in broder sence-in trading point of view 5840 and 5690 are the levels to be watched.
Looking at oversold situation one may initiate long position but tgt would be 5840 only.But though oversold one must be very catious as this condition may exist for few trading sessions with trading range of 5690 to 5840.
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