The question in the title today is a no brainer. I dont need charts for today to predict market direction. NSG waiver, strong global cues, resolution of singur row.....market should open today with a big gap up. NIFTY could gain 200+ points today. On the upside watch for our resistance at 4620 - 4640 levels. Above that we can get 4700. Remember to liquidate all your longs there. The euphoria may not be too long lived. I hope you are still holding the longs recommended last week. Its a good time to book some profits.
Book some 50% longs near the 4600 level and hold rest for tomorrow. US markets might rally tonight on the back of the Fannie freddie bailout news...so possible +ve cues tomorrow as well.
Monday, September 8, 2008
Do you want to know where market is headed today...? Sep 08, 2008
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