CLASSIC REVERSALS DAY

Nifty followed the world markets , crashed in opening , took support at 2800-2820 zone , moved back over 2860 and rushed to close at 2921 and is poised to move towards 2950 zone.., if it sustains over this level we may be proceeding to the next level of 2990-3020, Strong support now lies at 2860 levels..break of which only will augur any weakness.Hope people following my blog enjoyed the levels being given..enjoy the profits and the weekend ..Cheers.

PROFIT TAKING OR WEAKNESS.

Markets in US & Asia are soft today , due to profit taking or weakness & bad financial data.. Posting profits in longs was a good stratergy & now wait for a good dip to reenter will give rewards.. 2880-60 zone again will provide some support and break of this will take us all the way to 2820-2800 zone. Resistance over 2945 will be 2990-3020.Do not rush into trading positions , trade light and in directionas it is weekend time , the bias for today looks down..cheers.