power house for nifty technicals and stock market fundamentals with charts and technicals.
Thursday, January 15, 2009
WEAK AGAIN
It seems markets pleased to deceive..short covering was fast furious as usual..As mentioned in market roundoff yesterday evening we can go either way, all the way down or lower or higher too (we closed all longs at close yesterday). So what next??????? GAP DOWN, sure SGX nifty trading low , lets watch 2700 closely break of which has supports around 2680 zone ..2750 will be a future S/R zone..and 2830 as a resistance zone for any move up..small traders/investors can stay away for a day or so to let markets seek its logical bottom ..before entering any longs in stocks or otherwise...cheers.
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