Nifty today surpassed the short term resistance of 5250 & also managed to close above it. Now the next crucial resistance would be around 5335. Technically it is making the higher lows pattern on charts & we might expect this upside to continue. We recommend that traders could initiate the longs in nifty future above 5300. Those traders who already have the long position in nifty future could hold it with the Stop Loss of 5205.
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Technical View on Nifty (18th June ‘10)
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Exit from long positions.
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