Market will open 1.5% up and the crucial level to cross is 5000-5020-5050.
This bounce could be a selling opportunity for most of traders as way up and down in nifty does not give any clear signal of bullish market as of now.
Nifty may recover of its 200 DMA but this rebound as per my sense would be a sell and exit opportunity.
Sunday, May 23, 2010
Market this week
Trend remains cautious as market trading below 200 DMA.Fight is still on it is difficult to say whether we get out of correction or go further down from here.
Wait and watch would be a better approach in this kind of scenario ,trend is choppy and unclear whether we move higher or take support at these levels.
US markets has managed to close a bit higher but fear on the street is not over yet money on sidelines has not come or probably a deeper dip on the cards.
Wait and watch would be a better approach in this kind of scenario ,trend is choppy and unclear whether we move higher or take support at these levels.
US markets has managed to close a bit higher but fear on the street is not over yet money on sidelines has not come or probably a deeper dip on the cards.
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