Nifty for 09 Jan 08

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.

Today was a neither here nor there day. In fact, the Sensex had made a new historic high, but on the other hand, the Nifty did not.

When the market itself is uncertain, it is better to be defensive rather than offensive. Therefore it would be prudent to stay long while maintaining the stop at a closing below 6220, as suggested yesterday.

The overall profit booking seems to have subdued as of now. There has been a major decline in the totally traded volumes on both the exchanges. Which also suggests the uncertainty of the market.

Status Quo.

On the last note ... India is not US, and US is not India. Knee jerk reactions between the USA and India markets will happen on a day to day basis.

I urge readers to look at the long term picture.

Trade happy after planning your trade.