Aug 18, 2011

Bears Giving No Space

Every Day Just wake up and Sell Sell Sell

  • Today the Crucial level of 4990 gets conquered by bears.
  • Target still remains the same 4897 - 4847 - 4837 .
  • At 4837 some buying can be done with a 20 point SL.

Ride the trend till it lasts

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6 comments:

  1. kuheliAugust 18, 2011 at 9:00 PM

    great analysis. Do you see the levels before expiry?
    Isn't market oversold?

    ReplyDelete
  2. POWERTRADEAugust 18, 2011 at 10:46 PM

    If you remember last June July 2010 once we crossed 5400 we reached 6300 plus on Diwali Market remained over bought for almost 4-5 months till all the shorts were drained from the system.This time its opposite so the oversold levels may give a very very short live bounce ... Our SL should be now 5088 on immediate basis 5197 for short term and 5588 for long term

    We are in an acute bear market and odd target is 3900 but it may take 2-3 months to come

    ReplyDelete
  3. POWERTRADEAugust 18, 2011 at 10:51 PM

    @Kuheli

    Thanks a lot but be cautious too now .. you can buy at supports but SL should not be more than 10 pts

    ReplyDelete
  4. kuheliAugust 19, 2011 at 9:53 AM

    it seems nifty has taken support @ your 4837. What is resistance now? 5088? or bounce may be capped early?

    ReplyDelete
  5. POWERTRADEAugust 19, 2011 at 11:37 AM

    @Kuheli

    5088 is the resistance now and watch for 4837 any close below it ---- forget upside for the next 10 months

    ReplyDelete
  6. kuheliAugust 19, 2011 at 12:54 PM

    Thanks for reply.
    any prediction for expiry? Is 4837 of nifty spot?

    ReplyDelete

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