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Nifty Outlook for 08-03-2011



Nifty bounced from intraday low around 5420 yesterday, which happens to be the 50% retracement of the previous leg up. Today Nifty need to manage to go below 5420 and closes below it, for further downside movement. For the morning session we advise the safe traders to book profits on shorts build on friday around 5430. We wil keep you posted for the next possible moves on Nifty. Keep watching this blog for updates.

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