According to FinQuest Securities' report, the Nifty appears to be weak and is likely to edge lower towards 3250/3200.
FinQuest Securities' report:
The bears seem to be over powering the Bulls in the tough battle ongoing since the last few days with Nifty taking a quick dip to 3296 levels before closing at 3330. Also important to note is that Nifty has been making lower highs and lower tops since the last 5 trading sessions.
Thus Nifty appears to be weak and is likely to edge lower towards 3250/3200. Relief rallies, if any, to 3370 levels can be utilized creating short positions.
Thursday, April 23, 2009
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