power house for nifty technicals and stock market fundamentals with charts and technicals.
Monday, August 17, 2009
GLOBAL SELL OUT
Markets just about performed on the global cues..Gapping down and then Selling off every rise to close at the lowest point or near the lows of last week..( Break of last weeks gap up pole ,, warned of weak trading day ahead..)This is global shakeout from overbought positions..4400 is the key level to watch now , below this we can drop to or below 4300..cross can take us to 4480-4500 zone..trade accordingly....cheers
WEEK AHEAD
Markets globally are very soft and selling out..4520 is S/R area for the week..the range could be 4420-4620 for the coming weak , break of which will tell us the short term direction..( hope people took the profits at tops as advised..)Trade according..cheers.
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