mkt ahead...20th apr 2010...

profit booking is happening in our mkts lots of factors technical(reaching 5400 etc) and fundamental(inflation,credit policy, quarterly results,greece,us unemployment rate/jobless claims etc etc).

the weak dow closing on friday showed its impact on monday on indian stock mkt and nifty plunged to low of 5161.

it has also now closed below sl for short to medium term traders. therefore outlook becomes bearish for short term.

but since intraday to near term charts are in oversold territory one can expect a bounce/pullback to 5300 lvls on a green dow closing monday and perhaps tuesday. after which there may be more downside left in nifty probably towards 5100 area. 5187 can act as near term closing support for nifty spot.

separated at birth???...

there may be more, i could recall similarities in these at present.

hope u have enjoyed!!!