Monday, November 3, 2008

PULLBACK CONTINUES

Markets gapped up and continued their upwards journey absorbing all selling coming from short term traders.., closing in the end at the upper end of the days trade. Short squeeze was the order of the day and ( SELL IN RISE, baby bears) kept waiting with sinking hearts for some fall or respite so they can get out of their positions.. will the markets correct, surely they will , this is 5 th day from the bottom and a 800 point nifty ride..BUT WHEN & WHERE..well well this is the hard part ..no one knows but it should come about in a day or so.the resistance range still is 3050-3150 NS.. enjoy the evening, cheers

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