Nifty for 14 Jan 08

These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.

From the chart pattern, it does seem that the Nifty is attempting to make a short term bullish pattern. In that case, it could continue its secular upward move soon.

Traders could take the risk of buying now, and place a stop at 6100. The short term uptrend would be confirmed if the Nifty moves above 6245 and does not violate 6100.

Trade happy after planning your trade.