24-3-2009 trading shows that markets after heavy raise in previous days' trade, faced resistance at 3020 zone with more shorts and closed at 2939 -7. If it is true nifty won't cross this level before settlement and corrects back up to 2830 and may close at 2900 range.
RSI and Stochastic are at over bought zone which shows markets may corrects now. FII data is highly positive shows that markets may raise in April also. Very huge rise in nifty future open interest shows very heavy role over to April series also a bullish sign.
Trade expectation: First markets will correct for settlement hence and SGX nifty is in positive. If markets open in positive short at over bought zone and markets have to correct up to 2830.
No comments:
Post a Comment