Today NIFTY(CMP-4987.2)opened with a Gap down.So as per me NIFTY should take support at 4941 as NIFTY has violated 5000 level.So on upper-side NIFTY has resistance at 5020.If NIFTY is not able to sustain this level than one can think of shorting NIFTY for say a target of 4882.
1.)Sterlite (CMP-692.45)- Short with a target of 671 with a STL 698.
Monday, May 17, 2010
Tuesday, May 11, 2010
Crucial Closing
Don't get carried away by yesterdays uptrend.As per me it was a technical bounce back as NIFTY(CMP-5193.6) fell for consecutive 4 days.For an uptrend to start NIFTY should close above 5197.So I won't recommend you to BUY now.Wait for some clarity over GREECE issue.As it can have a bad impact on Indian market.
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