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Is Nuclear Deal Suitable For Indian Growth?
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Talk about Futures & Options in securities. Discuss Index Futures.

Thread: Let's talk Nifty..

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#5 (permalink)

23rd August 2007, 05:15 PM

pkapadia

Join Date: Aug 2007

Location: Pune, India

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Posts: 130

Blog Entries: 1

Thanks: 6

Thanked 6 Times in 6 Posts

whither Nifty?

The turbulence in the markets is overwhelming. The short term trend is down. The daytraders must hold short positions (albeit with strict SL).
Since it failed to stay above 4200 levels, regardless of brief pullbacks, it is now headed towards its major support of 4040. The local political conditions have made us all jittery, and if there is any -ve cue from the global markets (like a major central bank raising interest rates, more bad economic data from USA, a correction in any of the major global markets etc.), Nifty could then tumble further to 3900 levels.
Paresh

P.S. I invite Vijay to post his Nifty views in a separate thread as there are many of us who trade mainly in Nifty futures. Thanks.

Last edited by pkapadia; 23rd August 2007 at 05:17 PM. Reason: addition to text

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