8-6-2009 trading shows that markets reversed and took direction downward. What was build last week by FIIs was effected now. Though expected this reversal at the moment it was happened so immediately by not touching the magic figure of nifty 4650. Now, every thing is towards downwards. FII data, F & O build up , option writings, many heavy weight scripts looking towards downwards. But, as our markets are fully controlled ones let us wait for weed out of up swings that will happen today just to trap the small investors for buying calls. Now SGX nifty is trading + 50 points.
Over all view:
As expected the peak of 4630 is stop loss for mid term run. Today we are on 10 day ema line. On earlier occasions markets took this point as support. Will it fail this time.? May be, wait for one more day for observing the F & O movements. Stop loss for shorts may be 4500. If markets could not cross this level on closing basis the correction may be beyond 2 weeks.
First one can go long with stop loss is 4430 the 10 day ema point.
Over all view:
As expected the peak of 4630 is stop loss for mid term run. Today we are on 10 day ema line. On earlier occasions markets took this point as support. Will it fail this time.? May be, wait for one more day for observing the F & O movements. Stop loss for shorts may be 4500. If markets could not cross this level on closing basis the correction may be beyond 2 weeks.
First one can go long with stop loss is 4430 the 10 day ema point.
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