Sunday 14 December 2008

India's Nifty Fifty - Recovery favoured


Last weeks close above the 2860 level, which ties in with the lows seen on 06/07 November, now makes a continued recovery more likely, with a return to 3240.55 favoured over coming sessions. If this is breached on the upside, there is scope for a retrace to around the 4000 level, near the 200 day moving average.

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