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We Expect Nifty to Give Breakout Next Week to 6070 Level

By Bhaveek Patel Leave a Comment

As we saw Nifty trading in tight range throughout the week, we are now seeing that this consolidation cannot be ruled out to more extend. So a positive breakout is expected targeting 6070 levels followed by short covering and fresh long positions.

When we talk about nifty futures we are more likely to bounce back to 6070 levels. Technically nifty is having strong resistance at 6070 level. Support at 6005 and 5979.

Our trading strategy for next week 27 December 2010 : Buy nifty near 6011 level for target 6070 and 6097. Also place stop loss near 5985.

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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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