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12 January, 2011

Nifty bounced up from the days low 5711 to 5863. It shows that nifty took support at 5700 zone. FII data is long in stocks futures and short in index futures.  Nifty future should cross 5960 then only confident of run up. Otherwise, simply nifty may be at 5600 at 200 day sma/ ema lines. Even 5550 is to be seen.

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