power house for nifty technicals and stock market fundamentals with charts and technicals.
Friday, May 22, 2009
CONSOLIDATING & TESTING
The week started with Huge historical GAP UP /circuit & ended with some uncertainity on sustainance of this humugous move from 3650 levels..Nothing much to add except markets making lower lows from tuesday opening & not crossing the highs last few days.. It has to cross highs soon otherwise big ticket unwinding can start...enjoy the weekend and I think many will remember this week for a long time to come, will look over the charts over the weekend and post something for trade ahead.. ..cheers..
TRADING AHEAD
Markets will be looking to stabalise somewhere here or lower zone to fall in a trading range in the coming days , watch the Ministry being formed and then take on from there in case there is no sell out globly..4200 around app.is a support zone breach of which takes us down towards 4050 zone ..resistance still is 4320 zone..trade light, and in direction as Smart money is in no hurry to buy at these levels it seems..enjoy the day ..Cheers
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