Market View - December 26, 2012 - Karvy

US markets slid on Christmas Eve, as politicians on Capitol Hill grew increasingly skeptical that a deal could reach on the fiscal cliff budget crisis before a year-end deadline. Asian stocks rose with the regional benchmark index trading less than 1 percent from its highest close for the year, as the yen dropped before the swearing in of a new, more pro-stimulus government.

For the day: Trade long in the Nifty above 5870 with stop loss placed at 5850 for targets of 5900 and 5930. Alternatively, trade short if the Nifty slips below 5850 levels targeting 5830 levels.

Source : Equity Bulls

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