Nifty Future did not break the low of 3532 made on 11/5/2009, thus leaving the gap at 3519 unfilled for the time being. Yesterdays' rally led by Reliance will now face various resistances starting from 3750 as indicated in chart posted for Market View for 11.5.09. Long positions should now have Stop Loss of 3645.
Reliance Future, with support from higher crude prices crossed the previous top and closed strongly @ 1962. Will now face resistance @ 2025 and there after @ 2100. Long positions in Reliance Future should have a stop loss of 1939.
Happy Trading,
Ketan Asher.
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