While our markets were trying to cross to bull trend at nifty 3150 the satyam episode was developed and then the markets reversed to down side. O K. Otherwise is not necessary. We are just studying the markets to trade and get profits. Not for any thing.
From nifty 3141 markets were getting down means the further down trend took momentum. Also, the nifty 2813 was broken. Now, we may see some pull back in this down trend just because of Govt's package to be given to Satyam or reduction of fuel prices. This pull back may be up to 2900-2950. Bull rally will be studied only after one weekly closing should be above previous one. Presently trade intraday based on day charts and take a put only after markets starts drifting from nifty 2950-2900. But there is the posibility to create a new low.
FII positions are balanced now???. If markets trade down to up today go long for two days. May be by buying 2900 calls.
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