Another lower close on Nifty today, with the markets basing, at 5500-5350 range. What is in store for the Nifty next? The top 10 India king’s Index has shown far greater weakness than the main indices, we are in for another bout of bearishness. It may continue downward from here or would have a small move up and get in into the bear mask again.
World markets have brushed off Middle East fears and have rallied big time, with all of them closing above a percent in gains. Can this bullish consensus bring a significant change of direction to the markets? What is the possibility? The daily chart of Nifty has a bullish formation developing, but yet to confirm itself. On this getting confirmed we may see rallied to 5750, which will pose a very strong resistance on the upside.
With increased volatility that the market is in now, the bullish consensus can come and go without giving any indications. The price patterns at the moment show it a bit in advance.
Day trades on Nifty and few of the active stocks were highly profitable in the previous session. Nifty, ICICIBANK, UNITECH, JPASSOCIAT, IFCI, SUZLON, DLF etc., gave good trades with nice risk to reward gains. These are not daily occurrences, but a few opportunities do come in a month. A close watch on strong stocks can give us the opportunity to trade these excellent moves and gain from them.
Day trading calls are given through Yahoo messenger at free of cost as an introductory offer, those traders intending to receive these calls may add bravisatemple@yahoo.com to their messenger lists.
No comments:
Post a Comment