Monday, May 11, 2009

SIDEWAYS TO PROFIT TAKING

Markets just about moved to 3650 zone and profit taking/unwinding started bringing it straight to the weekly support of 3520zone ...breach of which takes us way down..noticable in todays trade was every fall proceeded with more fall & the Bulls just about were absent..Hope people had posted their gains last week..watch 3480-3510 zone in declines and 3590-3620 zone in advances..be careful in trades from heron as volitality could be increasing in coming days /weeks...enjoy the day..cheers..

WEEK AHEAD

Markets entering into a very critical timeframe of this humungous rise,3650 is going to be the S/R of this week. Some astro signatures also changing by this weekend(besides our election results) , which could signify changes. be a intraday trader this week 3500-3800 could be a range....enjoy the trade ..cheers.
PS: 100 ema intraday was in a 30 mins timeframe on friday,3582.85 was where markets took support..