As mentioned in my blog on Friday 22/02/2008, that the close of Nifty below 5120, can pull down Nifty till 5030. In the morning session Nifty opened in the positive zone rallied for a while but again slipped in the negative zone within minutes. Bulls tried to pull the markets but they were not successful in the early trading session as at the reason, the Nifty tanked till 5050. As told u earlier that Nifty has a good support at 5030-5050 levels, and bounced back and closed at 5192.In my chart you may see that the Nifty took a support on the “SUPPORT” trend line. That was also informed earlier. Finally Nifty found resistance at 5200 as mentioned earlier and closed at 5192. Tomorrow the Nifty will cross the 5200 and the next resistance levels will be at 5246 levels. Close above 5246, Nifty will touch 5400 very fast.
I had given a buy call of Nifty futures a 5050-5055 levels with the SL of 5030 in the Nifty spot price, in the early trading session at 10.45 AM, when the Nifty was finding support at 5050. I have informed my clients to partially book profits at 5124 and the remaining to be carried forward if the Nifty spot closes above 5176. You can find for yourself the Profits that my clients earned. Nifty closed at 5176 at 5192. My clients are still holding the Nifty buy position. MAAAAL LAAAAOOOOOOO…………..
The buy call was given on the blog also.
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