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.Two things could have contributed to the weakness on Friday. One is the weekend factor. The second is that there seemed an extra dose of exuberance at the opening. This bullish enthusiasm made the Index open with an upside gap. However, the gap was closed with a couple of hours.
It is has also tested the supply line, which was mentioned on Thursday. It was also mentioned ... "So very simply, bulls should remain alert. With the weekend around the corner, there again would be some volatility." On an intraday perspective we may have a 50 odd point downside. This could be used to buy in.
Technically the position remains as a suggestion to buy on dips.
Plan your trades and trade happy.
1 comment:
so what abt aug series sirji ! still no sign of a correction or we cross the bridge when it comes ??
reg
ketan
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