power house for nifty technicals and stock market fundamentals with charts and technicals.
Monday, May 4, 2009
SURGING AHEAD
Markets gapped up and kept going up to 3650 area where it has now spent a lot of time...Above this area 3720-3780 will be a area to watch and below on signs of profit taking now 3520 zone will provide decent support.Do remember now the base with every rise is also moving up...Its going to be a tough month , not only for retailers but also traders as soon volitality may set in which may start giving very wild swingson either side..in the meanwhile ,enjoy the day..cheers.
ROCKING AGAIN.
Asia is quite up, SGX nifty suggests a good gap up moving quickly to the next swing level of 3648 ( as mentioned in a post before)..Wait and see where it leads to...Monthly S/R is 3350 & WEEKLY S/R is 3460, Range for this month could be quite high(2750-3950)..so trade accordingly..enjoy the day..cheers
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