Tuesday, June 23, 2009

Trade with positive bias.....

What I wrote yesterday again held true....Nifty bounced from the morning panic and closed in the green. It is still within the 50 points reversal zone between 4200 and 4250 (+/-).....

Tomorrow, even if markets open in the green (unlikely), it will drift towards 4190-4180 during the course of the day or open around that region in the morning as is suggested on the 5-min intraday charts of 1st month Nifty Futures.....After that the pullback should continue upwards and inch towards that 4450 zone in a few days after June expiry.

So buy on intraday dips (but do not buy call options as they will die valueless....).....Do keep a stop of 4143 in case of emergency.....

Happy times !!!....

1 comment:

BSRao said...

Dear Saptarshi,

Congratulations.

Your are analysis are superb.

Know me......

Disclaimer:

Investing in stock markets carries inherent risks. Readers are requested to consult their financial adviser for trading / investing. The views expressed here are solely that of the author and he wont be responsible for any gains or loss arising to the readers for trading based on the expressed ideas.