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06 May, 2010

short term or medium term correction? wait for 4865 breakout

Nifty in this series continues its downward journey and still the situation is weak. Global cues are still weak. It is anticipated further weakness in the coming sessions. Will this lead to short term correction or medium term fall the support at nifty 4865 will say. Wait and watch.

Till then stay in shorts with stop loss nifty 5130.

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