Monday, May 07, 2007

Nifty for 07 May 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.

The market is continues to follow the technical pattern. It is still respecting earlier established supports and resistances. Traders could still keep the low of Monday 30 April (4028), as a stop to protect from losses.

Readers must be getting tired of reading the same thing over and over again, but nothing dramatic has happened to change that belief.

Today’s small candle again is in the nature of a likely correction. The Nifty could take support around the 4070 to 4100 region.

Plan and trade happy.

1 comment:

pandyaketan said...

nothing boring sirji. even if some ppl feel so, better to get bored (and follow ur levels) than to lose money ! haha

reg
ketan