18-3-2009 trading shows that markets tested the resistance trend line of nifty at 2835 and reversed back. Nifty closed at 2795 +37 points. F & O data shows that heavy put writing. This means markets may not fall drastically. Now the Dow is positive for today and may reverse back either on Friday or Monday and turns down for a week. Hence, if nifty could not cross 2835-2860 immediately we may see down trend target may be up to
2350 with in three to four weeks.
Trade expectation:
Nikkei is trading negative now. Daily Stockastic is at over bought zone and may require one more day for confirmed reversal. One may buy puts in today's intraday over bought zone if nifty won't cross 2860. The news of inflation figures may turn negative to markets and we may see negative closing today.
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