Call it a Dead Cat Bounce ---- I will call the Dragon Bounce.
Stupendous performance today ---- First the Leveraged ones covered on the gap-up , Later on the margin calls got triggered - nifty surpassed the key resistance - the ones who were left out ran for cover - lastly those who thought were left out came in --- Eureka Eureka Eureka.
For tomorrow we may see a very labored move till 4985 - 5015. I am expecting a certain level of cooling before any further move. Supports are at 4840 - 4860 where buying can be done again.
Still we are not out of the woods - Today's rally factored in may positivism. 5040 is still a good resistance area above which we may get 5180.
One may short tomorrow at the opening bell as being a two day holiday i expect a sell off again.
Stupendous performance today ---- First the Leveraged ones covered on the gap-up , Later on the margin calls got triggered - nifty surpassed the key resistance - the ones who were left out ran for cover - lastly those who thought were left out came in --- Eureka Eureka Eureka.
For tomorrow we may see a very labored move till 4985 - 5015. I am expecting a certain level of cooling before any further move. Supports are at 4840 - 4860 where buying can be done again.
Still we are not out of the woods - Today's rally factored in may positivism. 5040 is still a good resistance area above which we may get 5180.
One may short tomorrow at the opening bell as being a two day holiday i expect a sell off again.
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