Friday, May 21, 2010

a bounce back EXACTLY from SUPPORTS

Yesterday, itself , i wrote here,,that from my support zone of 4833--4873, a trader must be careful in shorts, as there will be a bounce back.

Nifty touched 4851 in the morning panic, ( and i passed my message to cover shorts from our positional short nifty message)..soon slow but steady recovery started.

markets failed t0 close in positive, but still it looks tobe a smart recovery, as expected from my supports.

2 comments:

Nandi said...

Dear Shri Naikji,
Soma level(Nifty's expected low) for yesterday, shown in vipanisangeetham is the same figure 4851. Even after such a big crash in USA markets Nifty does not go below that figure(a figure worked out from Thursday's put open interest). Why? Is Nifty standing on its own legs with out any dependence to world markets? Or Nifty already delinked from other world markets ?

Nandi said...

Dear Naikji,
Are you spending sleepless nights ?
Time of posting this message is 3.33 a.m., that's why it is asked.

The figure 4851 seen as Soma level (Nifty's expected low) for yesterday in vipanisangeetham, which was posted at 7.42 p.m. on Thursday.
Even after such a big crash is USA markets Nifty does not go below that figure. Why ?