no signals for major reversal???

First I have to say that I could not post anything here as I attended the election duties. Now, I am free.

As seen from previous two day's trading one can observe that the operator booked profits very well either in stocks/futures. Markets felt resistance at Nifty 3500 zone on the two days. Wild swing up and down on the previous day is also a signal. Open interest in nifty came down for the two days ( a profit booking but not addition of shorts). Even in stocks futures and option writings the trend has not changed to down side but a small correction swing. We have to study whether any thing happens on F & O front during the two trading sessions. If nothing has build up on the down side then buy 3600 calls.

Most possible expectation is that markets may correct for one or two days down side and goes up very well.

Levels as per Sensex: 10900-10800-10600 and bounce back....
On the nifty front 3300-3150.....

Up date 20-4-2009: 7.32 am.

Now SGX nifty is in small red and Asian markets are in red. 

Go long if nifty cannot break   3350 and go short if nifty cannot cross 3460.