Nifty for 07 Apr 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 was suggested on Friday that … “the Index must make a short term bottom around Monday or Tuesday and should not violate 4468. If it does, then we may assume another extended period of bearishness”.

After today’s price move it does seem that the market does not seem to want to give up its gains of the last two weeks.

From the market action today, it does seem that this is a significant short term bottom.

Short term traders may keep their stops at ~4627. Long term traders may also raise their stops to 4627.

Trade happy after planning your trade.