Nifty Outlook and Trading Strategy 05-Jan 2012

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For Intraday trading tomorrow Thursday 05-Jan, the market is expected to take cues from the global markets and may open on a flat note. Nifty could find resistance level at 4,800 and 4,825 while 4,720 and 4,660 levels are the support levels. Nifty outlook still remains sideways and a break above or below 4,850 and 4,660 respectively will give a trend to the market movement.

Nifty Intraday Trading Strategy 05-Jan
Trade long in the Nifty above 4,750 levels with a stop loss at 4,720 for targets of 4800 levels. Alternatively, trade short if the Nifty fails to cross 4,800 levels with a stop loss of 4,820 for targets of 4,750.

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