30-6-2009 the last day of the quarter made many worried by loosing steam. Markets opened in green and lost 100 points to close nifty at 4291. FII data, F & O data 6.5 lakhs addition in nifty future and addition of shorts in many stocks , Option writing all are negative. FII cash buying is +ve. Global cues are negative. SGX nifty which was at -50 yesterday late trading , now trading at flat.
Head and shoulder in daily charts.
Will the right shoulder be completed for further fall in the markets? Wait for two days. To break the right shoulder to down(nifty 4170-4150 to be broken) there should be one big gap down within one week.
Over all view: One to 1 and half day red may be seen further. Nifty 4250-4218-4170-4150 all are hurdles. If markets wants to attract common man's shorts into the system markets have to break all the levels noted above. Then only markets will jump up remarkably to show any goodness of the coming budget. Will it happen?
Head and shoulder in daily charts.
Will the right shoulder be completed for further fall in the markets? Wait for two days. To break the right shoulder to down(nifty 4170-4150 to be broken) there should be one big gap down within one week.
Over all view: One to 1 and half day red may be seen further. Nifty 4250-4218-4170-4150 all are hurdles. If markets wants to attract common man's shorts into the system markets have to break all the levels noted above. Then only markets will jump up remarkably to show any goodness of the coming budget. Will it happen?
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