All kind of posts are coming which are indicating a downfall of Nifty to 4500…Nifty could not even sustain 4800 before recovering…Short Sellers had no confidence to wait even till Monday for possible more gains….So substantial Short Covering brought it back to 4950 levels from 4800 levels on the same day…So presently Nifty by no means is in the hands of Bears. Smart Recovery by European Markets (they are in Green), less damage to DOW (it recovered from -300 down future condition to just -150 down levels)and possible GAP up of Hangseng on monday (it just fell mindlessly as no cues for recovery till it closed), should take Nifty back to 5050+ levels. The last Friday should be an eye opener to those who trade without hedging. One can consider buying BankNifty at 9050+ levels with a stoploss of 9030 only. Targets 9200+
Now the understanding of interlinking of global market and relative percentage up & down of global indexes is very critical for successful trade during these days….
let me attempt for the benefit of our friends………………
1. We recovered but Hangseng could not recover, although at one point both markets were down by 4 – 5%.
2. Why we recovered because European markets in opening were down only by 1.5% while at that time
we were down by 4-5%.
3. Furthermore European markets closed in Green on Friday (higher after our closing) and also
Dow recovered so we can expect positive opening on this account.
4. mainly Hangseng which closed 5% down on Friday is crucial. If it is up by 400-500 points
then we may float or remain positive, but if it is flat or negative then that is worrisome.
I expect Hangseng to be up by 400-500 points atleast.
5. The real direction will come from European Opening at 1330 on monday. Again I expect this to
be positive, which may further boost us.
6. If Monday is Green as above, then Dubai ghost is burried for time being.
Request do not take trade in the morning in haste, till 1330 uncertainty will be present in the market. Overall as per my views market is still in uptrend…In absence of more data I presume that Dubai is over which will actually be confirmed by monday closing.
buy above 4962 stoploss – 4942 targets – 4990-5020-5048 …..sell below 4918 sl- 4938 targets- 4880-4848-4804.
above written views are my personal views and it may be tottly wrong . please trade after complete reasearch and after consult your financial doctor . thanks and wish you a very safe and profitable trading week ahead .[/SIZE][/SIZE][/B]
Now the understanding of interlinking of global market and relative percentage up & down of global indexes is very critical for successful trade during these days….
let me attempt for the benefit of our friends………………
1. We recovered but Hangseng could not recover, although at one point both markets were down by 4 – 5%.
2. Why we recovered because European markets in opening were down only by 1.5% while at that time
we were down by 4-5%.
3. Furthermore European markets closed in Green on Friday (higher after our closing) and also
Dow recovered so we can expect positive opening on this account.
4. mainly Hangseng which closed 5% down on Friday is crucial. If it is up by 400-500 points
then we may float or remain positive, but if it is flat or negative then that is worrisome.
I expect Hangseng to be up by 400-500 points atleast.
5. The real direction will come from European Opening at 1330 on monday. Again I expect this to
be positive, which may further boost us.
6. If Monday is Green as above, then Dubai ghost is burried for time being.
Request do not take trade in the morning in haste, till 1330 uncertainty will be present in the market. Overall as per my views market is still in uptrend…In absence of more data I presume that Dubai is over which will actually be confirmed by monday closing.
buy above 4962 stoploss – 4942 targets – 4990-5020-5048 …..sell below 4918 sl- 4938 targets- 4880-4848-4804.
above written views are my personal views and it may be tottly wrong . please trade after complete reasearch and after consult your financial doctor . thanks and wish you a very safe and profitable trading week ahead .[/SIZE][/SIZE][/B]
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