25-8-2009 trading shows that as expected the markets took a dip but rises well to close nifty at 4659 +16 points. FII data, F&O data, option writings shows that markets will be bullish further. US and Global markets are Mixed as Shanghai is in red again. SGX nifty is in +ve as of now.
Over all view: We are nearing the peak level of 4720 and markets are facing resistance once again (divergence in one hour charts and continuation of fall in Shanghai). But as per option writings markets should close above 4600 and below 4700 for this month. Option buildup in next month series shows that the range is between nifty 4500-5000 (both will be reached). The flow of IPOs shows that markets will rise further.
Hence, the trading on Friday is most important for the trend setting. It is better to have hedging for these three days for the longs/shorts. Dow may corrects for further two days please....
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