there's no bearishness, however profit booking may continue for sometime.
as seen from spot nifty chart above, today's support is near 5300.
for positional short to medium term longs, the support(tsl) can be kept below 5200 and tentative sl can be about 5100.
because of the sharp run up in recent times, these lvls are a bit deep. but remember the advise on cutting shorts and going positional longs was given in comments section at 4950 after which time our downward tgt of 4800 etc was also achieved.
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Wednesday, June 23, 2010
mkt ahead...23rd june 2010...
Posted by
abhay r somkuwar
at
10:07 AM
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3 comments:
Y 4800 etc was also achieved?? which has not achieved?
By the way how r u.. i was out of trading because of holidays :P
Baltic dry Index is down? any significant changes will come in equities?
hi sujattha w/c back hope u enjoyed ur vacations:)
which has not achieved? 4700 was not lol, no prob it went in our range 4700-4800, hope u were out of short and managed to book at right time. ya baltic dry down weak but oversold on the daily, as long as 2163 holds in coming days closing basis no prob.
regards.
Thanks for the information about Baltic..
Yes.. subperbly bought @ very lower levels and closed my long :) and went on holidays
Comparing with your analysis (charts) is helping me a lot to take action @ right time.
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