JAI SHRI KRISHNA
AFTER A POSITIVE OPENING THE DOW JONES SLIPPED 143 POINTS AND NASDAQ SLIPPED 27 POINTS IN DEEP RED.
EUROPE CLOSED POSITIVE YESTERDAY FTSE100 +39, DAX +5, CAC40 +46.
ASIAN MKT IN RED AND SLIPPING MORE:
NEKKEI -265, HANGSENG -522.
JAI SHRI KRISHNA AFTER A POSITIVE OPENING THE DOW JONES SLIPPED 143 POINTS AND NASDAQ SLIPPED 27 POINTS IN DEEP RED.A NEGATIVE GAP DOWN OPENING AFTER A POSITIVE OPENING IN THE US MKT, CURRENTLY BOTH THE INDICES ARE IN RED: DOW JONES -74, AND NASDAQ -9. MARKET OUTLOOK:-NIFTY HAS TAKEN SUPPORT NEAR 5100 IN LAST TWO DAYS, WHICH IS ALSO 200 DMA. NOW IF 5100 REMAINS INTACT FOR TODAY WE MAY GO UPTO 5300 BY TODAY OR MONDAY MORNING. WATCH FOR 5100 CASH NIFTY LEVEL AND TRADE ACCORDINGLY. HOWEVER, SELL YOUR LONG POSITION AROUND 5300 AND REMAIN IN CASH. DECISIVE CLOSE ABOVE 5350 ONLY WILL TRIGGER LONG POSITION, OTHERWISE NOT.
NIFTY HAS MADE A SYMETRICAL TRIANGLE ON DAILY CHART,SINCE THE FALL. NIFTY CAN GO EITHER SIDE. IT SEEMS WE MAY HAVE A DECISIVE DIRECTION IN THE MARKET AFTER THE BUDGET. MOST PROBABLY ITS WAITING FOR THE TRIGGER FOR ANOTHER BREAK DOWN, WHICH MAY HAPPEN ANY TIME. WE ARE HOVERING AROUND 200 DMA SINCE LAST THREE WEEKS.
CAUTION:-IF BREAKS 5100 DECISIVELY THEN PLEASE DO NOT REMAIN LONG AT ALL.
MARKET ARE HIGH VOLATILE, WHICH INDICATE BIG MOVE IN EITHER SIDE…..
NIFTY AS REMAIN 5000- BULL FAVOUR.
TECH STOCKS LOOKS HOT…..ROLTA -BUY BAT OPENING TARGET -332-335,SL---320 PREMARKET INTRADAY ,,IDEA BUY - AT OPENING TARGET--106.50,,,SL--115 PREMARKET INTRADAY
Tips for 22.02.2008
Thursday, February 21, 2008at 8:15 PM