Published on Fri, Feb 10, 2012 at 08:08 | Source : Moneycontrol.com
Updated at Fri, Feb 10, 2012 at 08:15
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The whistle has blown: Mohit Gaba
The Bank Nifty has broken out with even more force supporting the Nifty break out strongly. Hence long position should continue to be held with a stop below 5338, says Technical Analyst, Mohit Gaba.
The Nifty has finally broken out of the psychological resistance of 5400 after trading the whole session in that 80 point pressure cooker band for four whole trading session proving my positive bias correct. As I mentioned yesterday "a trend is assumed to be in motion until proven otherwise", and in this case it wasn't proven otherwise.
The Bank Nifty has broken out with even more force supporting the Nifty break out strongly. Hence long position should continue to be held with a stop below 5338. If one does not have long position one could initiate fresh longs at open tomorrow with a stop at 5338.
