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Nifty Outlook for 27-04-2011

Nifty Daily Chart: Negative sloping trend line holds on good for the 8th time yesterday. Seems to me like nifty is struck between mid band of BB and negative trend line. BB is pinching giving us a clue that we are about to see a major move very soon. We need to get a good close above the negative trendline to gain momentum, RSI and MACD has room for validating the push.

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