FRIDAY 23-05-08 - 8.50 AM

DUE TO MY FAMILY FUNCTION , I DID NOT UPDATE MY BLOG ON YESTERDAY

MARKET VIEW
US MARKET CLOSED WITH MILD UP SIDE OR FLAT CLOSE, AND ASIAN MARKETS ARE DOING MIXED, HERE EXPECT FLAT OPEN, OR MILD DOWN SIDE OPEN, TODAY WEEK END, INFLATION NO’S WILL COME OUT AROUND 12 O CLOCK, ACCORDING TO THIS MARKET WILL DO FURTHER MOVE, NOW MARKET IS IN CRUCIAL STAGE, NOW SENSEX HAS VERY GOOD SUPPORT AROUND 16840 TO 16800, AND NIFTY HAS GOOD SUPPORT AROUND 5000 TO 4980 RANGE, IF THIS POINTS BREAKS AND CLOSE BELOW, THEN BIG DOWN SIDE IS WAITING FOR US, MAY BE IT WILL TEST THE JAN LOW, SO AVOID MARKET, DON’T TAKE ANY FRESH LONGS, BOOK UR LONGS, OR HEDGE UR LONGS, IF THE ABOVE POINTS BREAKS AND TRY TO CLOSE BELOW THIS POINTS, THEN NIFTY TRADERS CAN GO SHORT, WITH S/L OF 5130, BUT SOME STOCK SPECIFIC MOVE WILL BE POSSIBLE, AND NEXT WEEK F&O EXPIRY ALSO THERE, SO HUGE VOLATILE BASED CORRECTION WILL BE POSSIBLE, SO DON’T PANIC, AND DON’T TRADE WITH CONFUSE, BECAUSE BIG HANDS WILL CONFUSE US, IF SENSEX SUSTAINS ABOVE 17500 THEN NEXT TARGET WILL BE 17750 AND ABOVE THIS LEVELS 18300, SO NOW WE ARE IN CAT ON THE WALL STAGE, SO BE COOL AND GET CONFORMATION OF THE MARKET MOVEMENT AND THEN TRADE, CRUDE OIL, INFLATION, GLOBAL MARKETS ARE NOT IN GOOD,

IDEA FOR ALL
IN THIS SITUATION WHAT WE HAVE TO DO?
NOW WE HAVE TO SQUARE OFF OUR LONGS, IN EVERY UP MOVE,
WAIT FOR THE CLEAR DIRECTION OF THE MARKET
DON’T TAKE FRESH LONGS, ( EVEN MARKET IN UP MOOD, IF U GREED FOR SMALL GAIN THEN BIG HOLE WILL COME TO UR POCKET)
IF U WANT TO DO DAY TRADING, SQUARE OFF ON THE SAME DAY EVEN IF UR POSITION IS IN LOSS
MAINTAIN THE S/L
DON’T HESITATE TO BOOK LOSS

BEST OF THE DAY
GREMAC LOOKS GOOD AB 166 TAR 180, S.L 163
YES BK BELOW 160 TAR 156, 146, 142, S/L 162