Wow !!! what a day it turned out to be.A day which was assumed as a dull day turned out to be the most intersting day after many days.Morning Nifty was looking weak , it even broke the 4795 levels but did not trade below that for much time and was trading above 4800 for most part of the day.It was during mid day the blog was updated when 4825 levels was crossed that nifty can be bought, till that point of time nifty spot and future were trading at par later it went to a 5-6 point premium , but towards the end after 3.15 pm there was huge short covering which pulled the nifty future to 4890,almost 13 point premium to spot.Spot closed at 4855.75,Which is a close above the important resistence of 4830 and 4845.Nifty spot should test 4930 in the coming days.Have a stop loss of 4830 on all long positions.
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