Thursday, January 15, 2009

SHORT COVERING RALLY

Yesterday rally from oversold zone was further fuelled by short covering over 2800 ; but with U.S. markets being highly negative... the upward rally seems to fizzle out. Watch NS 2800-2700 for bullish and bearish indicator. Today's pivot is NF 2774 with resistance at NF 2797-2831 and support at NF 2720-2668.

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