Monday, May 11, 2009

election rules the markets

advice for small players to avoid the markets this week.markets have not corrected in a big way since the rally started from 2539 nifty levels,,though in my opinion such strong rallies from the bottom should be mostly part of the new bull wave only,,one must remember forever that never ever any markets have gone either up or down without correcting themselves.very strict stoploss for nifty must be kept,3575 for spot nifty is the level to watch on the closing basis,,a close below 3575 will easily open doors for nifty to reach 3505 first.on the upside a close above 3703 is needed for nifty to touch 3819.but election results being a big event affecting markets,all chances are that these levels can come on a single day only.clearly volatility will be very very high,,so i again advice smaller players to remain out of the markets,and to trade in smaller quantities with clear stoplosses,only if they cant avoid the markets.

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