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16 MAY 2012 : NIFTY - intraday update
NIFTY: 16 May 2012: Hint for another gap down and all eyes must be again on 4850. As said yesterday, Ghost of Greece is back – moving in re- election.
DOWJONES INDUSTRIAL AVERAGE: Short term study based on Elliott wave theory. Resistance @ 13050 and expect slow and steady fall up to 12285.
NIFTY: 15 May 2012: Broken below 4904 to hit 4874. Expect the test of 4850 and watch out for signals for bounce. If it fails then prepare for 4790.
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