Date: 25.01.2012
Goldennifty analyzing team said, NSE Nifty has breached above its December 2011 highs decisively with good breath and volumes which is a bullish signal. The index is expected to test the falling channel drawn from the November 2010 highs and the 200 SMA which stands around the 5,200-5,230 levels on the upside. There is an immediate support at 5,080-5,060 levels on the downside; trades should maintain a buy on dips approach. www.goldennifty.com
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