March 24, 2014

Market outlook

NIFTY makes and closes at a new high. The rally was led by bank stocks and index heavyweights. Advance decline was negative which means that inspite of markets closing at a new high, most stocks actually closed in the red.

Stoploss for nifty long positions is now at 6420 spot. Of course, a complete reversal of today's gains will mean chances of correction are increasing.

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