Saturday, June 5, 2010

INDIA MARKETS , DEVIATED FROM THE WORLD ,,, FOR HOW LONG ??

As a professional technical analyst,,,especially as i give intraday trading calls, my FIRST and FOREMOST, duty is the protection of MY clients trading position.

After 2-3 great trading days,, thursday evening, i had given two btst buy calls...(my last NIFTY buy call was at 5066 and was closed around 5095, intraday)..they were 1) lic h fin at 967  2) axis bank at 1236.

axis, gave 10 rs intraday itself...so i passed on tht message too.
But, yesterday, before open , i CLEARLY suggested that, close all open position, at around opening.,, n to wait for clear clues.
for the whole day, there was not a single call given , after closing all open buy position.

FOR, me , it was significantly important to stay cool n calm n wait for any clues on daily charts.
overnight, dow plunged heavily.,, though india seems to have deviated from the panicked world,
especially in the last upmove,,4960 is the crucial level for nifty.
and do not forget, the upward channel.

I had clearly mentioned..these levels on 26th may 2010....

::"""""E very one knows ,lower levels ..market immediately tries to prove them wrong.
up move is gathering momentum. as i said in morning...watch 5023/5091 and 5146/5180.

also , this rally should go up in 3 legs. two up and one down. so tomorrow and for monday 5091 looks tobe a critical resistance to watch.""""""

as  , it is clear , that  after 5023 was taken out, 5091 was to come, and than 5146, now ,had anyone noticed yeaterdays nifty high ?? it was 5147.91...

also, i said that on any upside 5213 is the most important hurdle. and dont forget, that the upside was clearly projected to come by in three waves, 2 up and one down.which came true.


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