As advised on previous blog any rise in the market would be a sell opportunity.Nifty could not sustain to its high and fell sharply in the close.
Support for the day is 4830 and resistance is 4900 .Indications are very clear that expiry would be in the range of 4800-4880.
Weakness remains in the market which gives a fear of testing 4650 in the June contract.
Monday, May 24, 2010
Sunday, May 23, 2010
Market Insight
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.
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.
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.
Thursday, May 20, 2010
Market View -21 May-2010
Nifty would open in red at least 1.5-2% following negative cues from US and Asia.
Nifty support is around 4850-4830 levels and resistance at 5001-5025 levels.It would hovers around 4850-to 4896 levels till afternoon session ,European market will decide the trend later on .Closing above 4915 may be expected.Trends remains bearish as 200 DMA support has been tested and market is trading below the range.
Stock specific action could be seen in M&M and can be accumulated at 505 levels for the target of 540 with a stop of 499.
Nifty support is around 4850-4830 levels and resistance at 5001-5025 levels.It would hovers around 4850-to 4896 levels till afternoon session ,European market will decide the trend later on .Closing above 4915 may be expected.Trends remains bearish as 200 DMA support has been tested and market is trading below the range.
Stock specific action could be seen in M&M and can be accumulated at 505 levels for the target of 540 with a stop of 499.
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