Tuesday, March 13, 2007

Nifty for 13 Mar 07


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.

As of now, the biggest factor which seems to be influencing the market is the May 2006 top of 3774. That is why I think we see the Nifty bouncing off and on that particular level.

As of now, the short term trend is up, the intermediate trend is trying to turn up, and the long term trend is still up.

The 3684 level is still exerting its influence on the tops and the 3685 level on the down side. As of now, the situation still seems a buy on dips, so readers could draw up their trading plans accordingly.

Trade happy.

1 comment:

pandyaketan said...

Sirji, some confusion ? 3684 / 3685 ? Also as of yesterday till 15 march, short terms trend was weak, its turned positive now ??

Are u suggesting we hedge ?

Somehow, i did not understand todays message very clearly !?

will try reading again ...

reg
ketan