November 27, 2013

Markets rangebound. Support 6000.

Markets continue trading in a range with no clear bias. Trading range is 5970-6220 going by recent swing highs and lows.

Intraday charts showed weakness initially as markets failed to sustain above 6070F. I took this as a short signal but there was no subsequent follow thru selling. Covered at cost.

BANKNIFTY trend is down and is trading in a triangle... expect a breakout soon. My bias is towards downside but I may be wrong.

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