Yesterday NIFTY stopped falling just at the trendline. Today we may have a bounce. Trading range for NIFTY will be 5020 - 5110. NIFTY is unable to sustain up. Use today's bounce to exit long if any and short around 5100 (if we get there) else around 5070. I have a feeling we are going to see some major correction over the next 2 weeks.
Look at the chart to see how nifty is exactly within our trendline
INTRADAY CALLS
NAGARJUNA FERT - BUY ABOVE 50.15 TARGET 52
RCOM - SELL BELOW 575 TARGET 565, 561
ISPAT - BUY target 37.7
ICICIBANK - SELL AT 890(STRONG RESISTANCE) TARGET 862
FOLLOW UP ON YESTERDAY'S CALLS
It wasnt a great day yesterday. BOI, ESSAROIL we didnt get an entry and IFCI triggerred stoploss. Though IFCI was strong, it was just beaten up by overall negative sentiment.
EVENTS TO WATCH OUT FOR
Today is Inflation friday. Market may remain lacklustre till the numbers are out at 12.
Friday, May 23, 2008
Is market about to crack?....May 23
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1 comment:
Such a nice blog. I hope you will create another post like this.
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