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Is Nifty Ready to be Shorted?

Indian stock market has reached its top and now we feel that the upside is limited as the breach of Nifty below 6000 mark which is a psychological mark is very important. Moreover we are in for a future expiry week and thus do not blindly go either long or short as volatility with marked swings can be seen. Just note that; Nifty still remains in bullish trend till 5800 level is not breached with volume.
So, the tag line is that bulls will have upper hand if Nifty crawls above 6000 mark with volume as FOMC meet magic has been overshadowed by our model RBI Governor Mr Raghuram Govinda Rajan policy announcements which has been taken with a negative perspective by the industry. Nonetheless; he is the current and the 23rd Governor of the Reserve Bank of India, having taken charge of India's central banking institution on 04 September 2013, and succeeding Duvvuri Subbarao. We are glad that he is a man of action as on his day of assumption he has made pretty loud and clear announcements.

Not to worry as Nifty will find its first support at 5800 and if it breaks then it finds support at 5763-5669 and if you like the chart, do remember to share the chart using Facebook, Twitter or Google Plus and let your friends also get benefitted. Just remember that sharing is awesome.

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