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.
Friday’s gap opening on the Nifty, suggests a huge bullish sentiment. In such cases, normally, there is an element of profit booking, as players who have bought at lower levels exit.
After the churn of the last month or so, some levels have become firmly established, which can be used as benchmarks to decide whether a trader would like to remain bought, or to book profit.
The market sentiment continues hugely in positive territory. On Friday, the volumes recorded are lower than Thursday, but still good.
The Bank Nifty must have surprised traders even on Friday, with the speed at which it has shot through the resistance levels. The CNXIT went through its resistances on Thursday itself.
3 comments:
Thanks sirji ! any LIKELY or TENTATIVE targets now for nifty (i know u generally dont give targets - only possibilities). last month u mentioned 4170-80 levels ??
if so, any time zones like jan series or feb ?
reg
ketan
pandyaketan,
If I knew everything you ask, I would be greater than God.
As you know I am not. I am only a very humble, down to earth, human being, who has learnt to respect what the market is telling me, and try and trade according to it.
Dusant
U have humbled many of us in the process too ! And i think most of us are thankful to you for it !
No problems abt targets, lets listen to you after u listen to the mkt !
haha and like u say - trade HAPPY !!
reg
ketan
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