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.
The Nifty is at a very interesting juncture. The last move up does seem like a correction to the previous fall.
It therefore becomes imperative that we approach this market with a strict view without any scope for complacency. I have marked out several zones on the chart which could be used as placing stops or buying zones, depending on the traders’ time horizon.
The 3970 zone could be tested, and then we may see some downside. If the 3900 and 3850 levels provide support, then we can assume that the trend will continue up. Or else, we could see some bloodshed on the bourses.
Trade happy.
The Nifty is at a very interesting juncture. The last move up does seem like a correction to the previous fall.
It therefore becomes imperative that we approach this market with a strict view without any scope for complacency. I have marked out several zones on the chart which could be used as placing stops or buying zones, depending on the traders’ time horizon.
The 3970 zone could be tested, and then we may see some downside. If the 3900 and 3850 levels provide support, then we can assume that the trend will continue up. Or else, we could see some bloodshed on the bourses.
Trade happy.
2 comments:
Sirji ! Back in India ?? This week (Dec 18 to 22, 2006) Shall be in 200 sensex pt range only (You know the source !!)
3850-3950 for nifty. Today is tuesday, today and yest both within 200 sensex pts. lets see on wed, thu and fri !!
reg
ketan
ur bloodshed has arrived today itself - i spoke too soon !!
reg
ketan
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