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Nifty Outlook for 01-04-2011

Nifty Daily Chart: Nifty resisted at 5875 levels yesterday, and as we expected there were wild swings due to FNO expiry. Looking at the chart, I feel that nifty will start moving down in a day or two and will try to fill the gaps formed during last week; before it resumes the move upward. I feel nifty would make a move towards 5610.
Nifty Intraday Chart: Nifty broke the positive trendline for the first time yesterday, however it turns back quickly to the trend channel. We need to wait and watch whether, a new negative trendline would be formed.


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Dear friend, After a span of 4 years in minting money and establishing Pentad and Dalal Times, it's time for me to back with sharing knowledge. Earlier, I have been sharing my analysis on Nifty thrice a day, now I will be sharing my analysis on Nifty, Global Indices, Stocks, Commodities, Economy, Key Events and so on. Over the past 4 years, apart from creating wealth from markets, I have also been consistently upgrading my knowledge on analyzing the markets. Starting 17th August, 2015 this blog would be active with enhanced knowledge sharing. Stay tuned to earn, learn and understand markets better... your market friend & forecaster Praveen Pathiyil