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Tuesday 25 November 2008

What Nifty did today

Nifty as can be seen in the above chart of the last few days did a dangerous rising expanding channel formation which generally tends to crack on the down side. A high was made and 50 per cent retrace of the last rising move too was washed away by the end of today's session was a fantastic view of the expanding channel breakdown. 2612 and 2564 can come easily if things are assumed to be still weak and there is no strong positive news flow.

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