Daily Chart
Resisted exactly at 5420 shown on daily charts.Even though the Nifty has
broken out of the flag formation it is better to wait for more
confirmation as the gap made on open was filled and the entire day saw
selling.Support taken at 38.2% level of rise from 5171 to 5420 high hit
today, shown in red on half hourly charts.
A buy on dips strategy is to be followed with trailing stops as per risk profile.
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Happy Trading !!
Lakshmi Ramachandran
www.vipreetsafetrading.com
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