Monday, June 1, 2009

POSITIVE DAY

Markets gave the 3rd gap up, traded below the pole the whole day & finally ran up in the last hr. to close near the morning highs..4620 could be a tentative target over 4560 ..Weakness below 4510.. Most traders & Intraday players are just chasing the momentum , as no one knows when & where this party will end..follow the techs .. and trade with strict SL....cheers..

MONTH AHEAD

Markets moving up every week from March onwards ...JUNE MONTH's S/R is 4200 with a range of 4100-4600 in smaller frame and app. 4800-3800( or a little more broader range) in a larger frame.Weekly techs suggest a range of 4200 -4600, As i mentioned in my note yesterday , this week will be a very interesting week to watch moving forward( watch DOW 8600 levels closely for cues...) enjoy the trade ,but keep strict SL's. cheers