NIFTY- weekly close 5995 (6056) – After rallied 2% on positive - TopicsExpress

NIFTY- weekly close 5995 (6056) – After rallied 2% on positive china reform news on Monday to hit 6200, market remains flat on Tuesday. It corrected sharply in last half hour on FII selling. Selling based on US news continued on Thursday to close at 6000. All experts talking about new high and 7000 for nifty get trapped in this sharp fall. With pullback attempt on Friday market closed flat. Market lost 60 points this week. As per our One two ka four % formula, keep stoploss of 50, 100, 200 points for short / mid / long term position respectively; from nearest top or bottom for confirmation of bear or bull trend reversal. After two weeks of fall, market bounce fail to cross 6200. Break below channel support 5980 will trigger fresh selling. Derivative expiry will add to more volatility. dinunifty.blogspot.in

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