May 12, 2014

Market outlook

NIFTY maintains uptrend and gains another 2%. Close was above 7000.

Advance decline was flat and not supporting the rally... this means people sold into the rally.

Now while my SL remains at 6640 (swing low),  I am adding another SL at 6850 spot... this is because of the fast nature of the rally and also the apparently big event this Friday.

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