08/12/11

Nifty Mp2 08/12/11

Nifty : A late afternoon news driven sell-off erased what was a proper p shaped profile with single prints at the bottom and converted the day to a normal day within IB.There was also a failed auction at 5134 which will be the focus of our attention for the remainder of the week.

There are still a lot of flash points in the European crisis saga and the latest statement from the zone–“Germany just rejected the proposals to combine the current and permanent euro-area rescue funds.  Merkel