NIFTY 50 future TRENDS

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My view is we are going to see Higher levels around October.. my stop for this is 4970 ... Immediate support at 5060 and Res. at 5134
Don't think that i am against the trend..without doubt it is weak below 5240 i would have said this several times yet over all trend is up on a long term basis.. from 4770
Only itching point is our political scenario..and drought
Conclusion It is short till 5134 is not crossed
 

prada

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Nifty(cmp-5121) Spot test of 5080 is still pending in the current down move. This should be seen in a few sessions. Near term top is in place at 5260. 5170 spot could act as stiff resistance. A move above it could expose 5260. Whichever way we look at it, overall trend remains down.
 
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