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19 June, 2009

18-6-2009 trading continued the down trend and nifty lost another 105 points and closed at 4251. FII data in cash, index future, stocks future is on down side even today. DII bought in cash. over all nifty futures added another 11 lakhs shares, may be further shorts. Down fall continues. Option writings also shows the further fall. Global cues are not negative, SGX nifty is +25 points.

Over all view : Just seeing the break of raising wedge in the daily chart the half way is 4300 that is broken and then 100 % is at 3925. In between there are some trend lines. Will they give support? Wait for reversal of the market and try to buy calls, may be today. Buy nifty 4300 call @ 18-23 range for 10 times profit in the next week.

Nifty down levels: 4210-4185-4150-4100-3925.

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