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***all analysis are based on self chart study only, actual trading gains may vary.
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    Wednesday, January 13, 2010

    mkt ahead 13th jan 2010...

    it was said tuesday or wednesday one should be cautious of profit booking. exactly that's what happened.

    particularly aban which reached our tgt 1530 and same day(tuesday) reacted and came under heavy profit booking which may continue till next monday or tuesday. downside lvl/support is placed at 1360/1325 if 1430 doesn't hold.

    whereas nifty still remained in its near term downtrend and was not able to cross its eod resistance lvls and led to further profit booking even on good iip data and infosys results!

    however support of 5160 is near and bulls may like to protect it on closing basis. downtrend in nifty may continue till friday.

    major supports for medium term uptrend are just below 5000.

    3 comments:

    Sujatha said...

    When Nifty is not listening to you? :)

    Ofcourse..took support @ 5160... nd shoot up..

    Now DOW also moving high??? pity Hangseng, Nikki.. :(

    Regards

    Sujatha said...

    Happy "Makara Shankaranthi" to you.

    Regards

    abhay r somkuwar said...

    hi sujatha, its greeted like "til gul ghya ani god god bola" here in maharashtra, wishing happy pongal to u also!

    i hope there's lot of upside left on dow/s$p500us and also our mkts this year till summer, we just have to be patient with our investments.

    thanks a lot!

    regards.

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