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SHASHANG's ENTRY & EXIT - NIFTY (JUNE 12th - JUNE 23 Tre |
shashangan
Green Belt
Joined: 12 Jun 2007
Posts: 1321
Location: Bangalore
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Post: #1  Posted: Thu Jun 12, 2008 2:31 am Post subject: SHASHANG's ENTRY & EXIT - NIFTY (JUNE 12th - JUNE 23 Tre |
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After the steep fall to 4369 (spot basis), the mkt has recovered marginally to the relief of many.
Anyway the pull back up looks like only a possible correction, which could follow with a one more sharp selling by next week. I expect this small pull back to continue through tomorrow to the minimum first upside target of 4588 around.
If the mkt is able to hold above this 4588 level or make a strong intra day break above or a close above, it may head to resistances 4628-32, 4648 enroute to the correction target 4724 around spot basis.
Expect a fall from 4724 (if it gets there) to next lower side target between 4305- 4294 around (strong support) followed by the next major lower support between 4268-62 around.
Anyway i could be wrong, check with me before you do anything on my views mentioned. The mkt is volatile, see that you stay cautious & take entries only if you can risk. Play mini if you cant take big risks.
Good luck,
Gautham Shashangan |
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ktpillai
White Belt
Joined: 23 Nov 2007
Posts: 95
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| Post: #2 Posted: Thu Jun 12, 2008 8:56 am Post subject: Re: SHASHANG's ENTRY & EXIT - NIFTY (JUNE 12th - JUNE 23 |
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| shashangan wrote: | After the steep fall to 4369 (spot basis), the mkt has recovered marginally to the relief of many.
Anyway the pull back up looks like only a possible correction, which could follow with a one more sharp selling by next week. I expect this small pull back to continue through tomorrow to the minimum first upside target of 4588 around.
If the mkt is able to hold above this 4588 level or make a strong intra day break above or a close above, it may head to resistances 4628-32, 4648 enroute to the correction target 4724 around spot basis.
Expect a fall from 4724 (if it gets there) to next lower side target between 4305- 4294 around (strong support) followed by the next major lower support between 4268-62 around.
Anyway i could be wrong, check with me before you do anything on my views mentioned. The mkt is volatile, see that you stay cautious & take entries only if you can risk. Play mini if you cant take big risks.
Good luck,
Gautham Shashangan |
I also support ur analysis of Nifty and i feel it is appropriate to be contrarian at this juncture |
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