25-5-2009 trading shows that markets traded range bound and closed flat. FII data - ve (added more shorts), F & O data range bound, Option writing in 4300 calls and 4200 puts. Global cues are - ve.
Though markets showed some positive signals yesterday evening but the closing and FII data indicates negativeness and markets may correct up to 10 day ema line @ nifty 4060. Hence, one can expect markets even in this settlement up to 4040. One can wait till this level for taking longs in the next month.
Over all view: O I data is - ve. 3o minute candle line is + ve. Upper parallel line in the above daily chart also gave support in the last two day s of trading. Nifty levels are 4186 -4212 supports if broken my theory of correction up to 4040 holds good.
Though markets showed some positive signals yesterday evening but the closing and FII data indicates negativeness and markets may correct up to 10 day ema line @ nifty 4060. Hence, one can expect markets even in this settlement up to 4040. One can wait till this level for taking longs in the next month.
Over all view: O I data is - ve. 3o minute candle line is + ve. Upper parallel line in the above daily chart also gave support in the last two day s of trading. Nifty levels are 4186 -4212 supports if broken my theory of correction up to 4040 holds good.
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