Wednesday, August 5, 2009

Markets did pause yesterday. Bullish undercurrent seen !!


After three days of non-stop rally, markets did pause yesterday and it is very much required if it has to scale new heights.

The undercurrent is still very much bullish and any move above 4718 levels today will start the next round of short squeeze, pushing the markets further to 4767, 4816 levels.

Only on a break below 4580 the bullish undercurrent will change, which is unlikely to happen very soon.

Resistance levels : 4718, 4739, 4767, 4816

Support levels : 4664, 4630, 4580


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Happy Trading
www.tripleint.com

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