Tuesday, March 17, 2009

Bull rally to continue ?!

NIFTY retraced back in today's session after testing its 50 DMA. Though it looks like NIFTY had a bearish day, the move and the overall trend still favours the bulls. The move to 2738 levels which was the initial peak level of yesterday's trade when the session opened and the subsequent bounce towards 2765 was also significant today. It has reiterated the bullish stance and it looks like NIFTY could blast off to new highs or reach 2845, 2868 levels soon.
Chart courtesy: NSEindia.com
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