June 21, 2010

Nifty's V shaped recovery


  • Nifty is trying for a V shaped recovery of its fall from 5399.
  • Currently we are at the 78.6% retracement level.
  • I feel if nifty  closes above 80% retracement level should take nifty above 5400.
  • But till then 78.6% may act as resistance level.

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