Hence tomorrow should see some amount of short covering and hopefully in the short term we should see some green on our screen, and 4100 is the level to watch out for.
Like it, Share it
Tuesday, September 30, 2008
4100 is the positive level
With the good closing of the markets today, one would tend to be optimistic about the next few days for the NIFTY. Well if you analyse the technicals, 4100 on the nifty is short term target above which we tend to resume the uptrend...(and it seems to be far far away). The short term stochastics have shown an improvement that basically means that the market should see a positive for atleast a couple of days and then we can take it from there. Beyond that I see a positive in RSI which has bounced back from the traditional levels of 30, thereby indicating a play of the technicals. But at the same time some of the indicators such as MACD have not shown any improvement what so ever.
Subscribe to:
Post Comments (Atom)
Popular Posts
-
Well, in my last post I had written that markets going down is a happy scenario as it would present very good opportunity to buy, also I h...
-
This was one stock that I picked up a couple of years back. At that time it was called Paradyne Infosystems. Now the company has changed i...
-
Nifty volatility has gone up with the sharp downmoves. The volatility was so high on Friday that it was a challenge to trade the Nifty and ...
-
This post shows how various indices have performed over the last 6 and 9 months. It is interesting to see that Realty sector is the worst ... -
With the stock markets crashing and falling like 9 pins, some of the stocks have reached levels that are simply mouthwatering. Its a phase i...
Recent Comments
Share it
Posts
0 comments:
Post a Comment