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Saturday, 25 January 2014

Nifty 27 January 2014 analysis forecast - 24 January 2014


Nifty does a googly today. Dollar index cracked, and INR depreciated. A pattern we havent seen long back. My view of sharp decline in dollar was correct but with INR it didnt work out.

INR is depreciating sharply and global markets too.

Long side breakout is now a distant dream for quite some time.

Trade on the short side now.

Levels would be 6216, 6139.  Stop loss would be 6300 - 6358.

Keep a close eye on EXPIRY blog till expiry for tracking Nifty January 2014 expiry levels.

Time wise 30 Jan 2014 - 5 Feb 2014 would be clear cut bearish.

Anjum S Khan