29, April
Nifty 3508.10
A sharp move above 3350 region would confirm that Nifty has bottomed out. Further, if this region is crossed, it would move towards 3600. And without any major downside correction, Nifty would clear 3600 region in coming trading sessions.
Instead, if Nifty trades below 3485, then it could slide towards 3450 region. In that case Nifty should not break 3430, if it has to bounce back.
Saturday, April 29, 2006
Friday, April 28, 2006
NIFTY STILL BULLISH, STOP 3475
28, April
Nifty 3508.10
Though Nifty has come below the stop-loss levels, the trend still continues to be bullish. If Nifty moves in expected lines, it would move above 3600 in three trading sessions.
A sharp move above 3550 region in the morning, would confirm that Nifty is bottomed out. Or, if Nifty trades above 3475 region without violating it, in that case also Nifty would bounce back.
If it moves below 3475 immediately in the morning itself, then it could further slide towards its previous low of 3433. If that is the case, then we have to wait till tomorrow to re-enter the market.
Technically, a big base for a strong and explosive rally is in the making in the charts. Corrections can be used to enter the scrips at lower levels. If Futures long positions are properly hedged using Put options, trading in this market in the long side would fetch good returns in coming trading sessions.
Nifty 3508.10
Though Nifty has come below the stop-loss levels, the trend still continues to be bullish. If Nifty moves in expected lines, it would move above 3600 in three trading sessions.
A sharp move above 3550 region in the morning, would confirm that Nifty is bottomed out. Or, if Nifty trades above 3475 region without violating it, in that case also Nifty would bounce back.
If it moves below 3475 immediately in the morning itself, then it could further slide towards its previous low of 3433. If that is the case, then we have to wait till tomorrow to re-enter the market.
Technically, a big base for a strong and explosive rally is in the making in the charts. Corrections can be used to enter the scrips at lower levels. If Futures long positions are properly hedged using Put options, trading in this market in the long side would fetch good returns in coming trading sessions.
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