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We Expect Nifty to Bounceback Next Week to 5979 Level

By Bhaveek Patel Leave a Comment

As we saw a strong selling in the broader markets for the week, we are now seeing that this correction cannot be ruled out to more extend. So a bounce is expected by support at lower levels followed by short covering.

When we talk about nifty we are more likely to bounce back to 5979 levels. Technically nifty is having strong support at 5700 level. Resistance at 5905 and 5979.

Our trading strategy for next week 29 November 2010 : Buy nifty near 5766 level for target 5907 and 5979. Also place stop loss near 5700.

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    Category: Nifty Tags: nifty/ Nifty Analysis/ Nifty Levels

    About Bhaveek Patel

    Bhaveek Patel is one of the most successful traders, technical analyst, and investor, his areas of interest include stock market, forex, and gold trading. Apart from this, he is often seen in the golf course. He is having more than 10 years of experience in trading, had placed his first order on 19 June 2006 with IndiaInfoline.

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