VIEW

For 22 May 2009

What a perfect day.....as said at opening taken support near 4240.....4260 was the point where nifty was trading for longer time......I said resistance @ 4310..it touched 4309 and turned there to test 4210......and closed at the same point.....those who followed seriously..and level to level..might have earned huge....

For today also I am with negative bias...first watch 4230....if cross then wait for some time to get clear signal.....if this level cros it might ...i say might... touch 4270....this the point to go short....sl 4310......if on downside if 4199 breaks then minor support @ 4167..and then straight to 4155..even 4135.....if 4211 not crossing or below 4211 then go short with sl 4230 for the said target.....if today also we get close below 4210 then we are heading towards 4070/4030....

Today support @ 4199/4167/4155/4135....resistance 4230/4270/4310....

Good luck!

I have not updated blog after ELECTION EUPHORIA....I have purposely avoided it....clearly given alert that euphoria exit no longer!.....2 days were imp....now again market will behave as a routine trading style.....

For today I am with negative bias....I dont think major upmove will start in near term..means in 4/5 sessions....till then sell on rise.....sl for positional shorts is 4455/4470 area....and tgt for shorts is 4170....in extreme condition 4030 may get.....!

For today max upside limit is 4310....if crosed decesively then 4350 possible but nice opportunity to short there.......on lower side see 4260 very minor support....then watch 4240....today 4210 is imp level for bulls to protect their sentiments.....if breaks then straight 4167......if close below 4210 then we might go towards 4100 as positional....

Today resistance 4310/4350....support 4260/4240/4210/4167.......