Markets just about moved to the resistance zone in the opening trade where many participants booked their FNO & stock positions in profit..Markets consolidated at 4770 for a while before moving up again.. supports lie in 4730-40 zone ..Next week will set the levels this markets will move to or react from ..Remember 4860 is the Monthly S/R..enjoy the weekend..& the gains of this week..cheers.
Friday, November 6, 2009
COVERING LOST GROUND
In 2 days markets reveresed most of the pain after jerking the weak hands real hard..I had strongly recommended to all visiting here to buy the panic and the dip for a bounce back to 4850 zone..& we reach there today almost ..ENJOY THE GAINS.One can start start booking profits as we gap up and move up..(Till 4900 is not taken out in close for a few days , take this as unwinding of severe oversold positions)4850-60 zone is the MONTHLY S/R.. watch that area carefully for any breakdown/breakout..enjoy the day cheers
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