I said'if 3362 breaks expect more downside…..and 3325
breaks on closing basis then negative trend for few
sessions……and if 3393 crosses with volume and close
above it then we may touch 3500 again! Supports 3362/3325/3250….
resistance 3392/3420/3440/3500.
So if opening is not gap down buy with sl 3362 (spot) for
first tgt 3393…if it crosses book longs @ 3420….if gap down
and below 3363..go short with sl 3393….for tgt 3325……if gap
up and above 3393…..dont short…..to go long or not it depends
upon other sectoral indices….but if not crossed 3420 then
I will be more on short side......today weekly close is imp…if
it is 3350++then this will be 6 th positive week…I expect rally
will be turn only in 8th week……of course if today if we must
close positive on weekly basis though negative on day…!!!'
Nifty opened up and crossed 3393 easily...paused little @ 3420...
as said above 3393..no short and 3420 crossed then long....all happenedas expected
again as said....resisted @ 3489....11 points below of my points
sell off in last hour of trading....touched 3359..but bounced to close @ 3384...
close is not above 3393 is the sing of weakness..
Today...support @ 3370/3340/3307/3270 and resistance @ 3390/3420/3440/3500
...overall I am expecting flat day today....considering last weak's total
journey..it seems bulls are not getting much strength above 3500...and
bears have not enough force to break 3300 level...lasat three days of last
week shown that no one wants to give up..so first three days of this week
are imp...if we break 3300 then I think 3520 is intermediate top...and we
are heading towards 3010...of course this is I am saying in broader way..
for very short term 3250 will touch if we today close below 3360...and if this weekly
closing is not negative then we may touch 3440/3500 again....
Today.....if gap up and above 3390....wait to cross 3420 for long.....if gap down and breaks 3370
go short with sl 3390....and in whole day nifty didnt cross 3390 and close below 3340carry short as positional for tgt 3140 and one may even think for 3030....
On Friday those who were on my "QUOTE....nQUOTE" box have enjoyed the day in RELIANCE and NIFTY..and yes....thursday's SAIL positional call got tgt achieved exactly....cheers..good luck!
