Nifty for 05 May 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.

Not much to change the mood. As was suggested last week, the market is still looking toppish for the short term, but is still not weak. The bulls would take heart from the fact that there still seems to be steam left in the market.

Stops may be retained at a close below 4971.

The suggestion to buy on dips still remains valid.

Trade happy after planning your trade.