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.On the face of it, we do see follow up buying to validate Thursday’s bounce. However, the follow up buying is not strong. It may be assumed that the FII’s were absent due to the holiday on Friday in the USA.
On the intraday charts, we saw a short term bullish pattern yesterday. Again, on the intraday charts, it has been validated. But not on the hourly chart. For the short term pattern to be validated, on Monday, the Nifty should move above 5638, and not fall below 5394.
This gives us a large range. To avoid large scale risk, traders could buy keeping the stop at 5394.
Trade happy after planning your trade.
1 comment:
dec 5 - opec meet to increase pdn
dec 11 - fed meet - us mkts telling him to cut rates
also link below... does it mean we reach 8000 on nifty or on the sensex ?? haha
http://money.cnn.com/2007/11/23/magazines/fortune/barr_recession.fortune/index.htm?postversion=2007112615
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