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Thursday, November 20, 2008

Nifty EOD


Doji formed after a big gap down. The gap down indicates panic but the small body indicates buying at lower levels as a result of which market does not tank much.

Expect bullishness and morning star/ island reversal if markets open gap up tomorrow.

Flat opening without filling gap may lead to sideways movement or new lows.

Note that mkts are at 80% retracement...this wud normally be the second last hope of bulls;the last obviously being the October lows

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