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Tuesday, 16 December 2008

Nifty as on 16 December 2008

Nifty is at the peak of a rising wedge or at the most on the top of a rising channel close to 3100. A breakout could likely be attempted with a retrace back into the wedge/channel and then what happens after that has to be keenly watched. A final rise after a false breakout or a tempting down turn has to be kept in mind.

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