Nifty for 29 Feb 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.

It makes no sense trying to analyse the market when sentiment are being driven from minute to minute by the news. However, it does seem that the market has not received the Annual Budget too well.

It would take another two or three trading sessions for the MBAs of the Financial Institutions to work out the implications of the Budget and devise their strategies towards the market. Therefore, it is suggested for the reader to stay away rather than risk capital. Short term traders could now place their trailing stop at 5090.

Allow the news to be assimilated and let the market tell us what it feels. Then only it would be prudent to enter the market, either way. So far the short term trend is still up, while the intermediate term trend is sideways.

Trade happy after planning your trade.