Wednesday, October 1, 2008
BULLISH DAY
Yesterday call of bullish candle and open to close high gave us the range we looked for in the morning update..app.3850-4000 area. This is becoming a traders market where participants are not very keen as of now to carry forward and add to their longs after buying the panic bottoms..profits are being taken on a intraday or a 2-3 days positional basis...I f we take 3800 as the near term bottom , the tops are squeezing downwards from 4600 in july to about 4000 today.The trading range is getting smaller and smaller.A range ..break out/down is imminent and will be fast furious in a few days from now ....Which side ..Take a guess?????? CHEERS.
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2 comments:
Hi Rajan,
Very nice blog you have. I visit it daily. Thanks for the timely updates. Regarding the market, my guess is, its going to bust up. Many reasons but my main one is that the Trin has gone below 1 signifying bullishness. Lets see. Its a crazy market.
Regards,
Arvind
thnx arvind, suggestions would also be welcome in the chat bom/mail or comments ,for more contents i can put up for all with my knoledge..cheers
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