Live Market

Tuesday, March 30, 2010

Will Nifty Cross The 5500 Mark?


The recent rally of indian markets raised questions among the positional traders.On march 25th onwards the markets claimed up and nifty touched a new high of this year.(Banknifty was traded in 9200 and now it is in 9600 Range).Many of the news makers start speculating the news that,the nifty is leading an another rally towards a new high...But today market was showing a mild correction and again the doubt raised many eyebrows.The purpose of this post is to clear the doubts/rumours and have a clear view of the market.One can not catch the fish in the muddy/unclear water.
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As per the 'EW' the Nifty currently in the 3rd wave> and that shows a target of 5460 .So nifty can attain the 5500 mark easily.Not alone this the indian banks may pull up the rally anytime and support nifty to cross 5500.00 mark. Be prepared for that.The month April is going to be a mile stone in indian market.!!.
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Almost all the traders with whom i am dealing with, feels that the market is matured enough and they are already started staying away from the market.This is what they call "Fight or Flight" situation.Play safe.
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In today market, We, some how avoided the intraday long positions and managed to sell at every high's and we succeded in three of our attempts and failed in one ,that caused 7 points loss,hence the stoploss got triggered.
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Any how our clients made a net profit of 100+ Points excluding the brokerage. 'Few of our Smart clients today made a profit of Rs. 50,000/-( They trade in- 10Lots ).We are really thrilled by their over whelming responses.It is our utmost responsibility to alert them to play safe.>>When you are trading beyond 2-lots you have to be more cautious and follow our Stop loss strictly.Do not ignore,we want you to be in a safe zone all the time.
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As we keep on insisiting to ' all day traders' the first thumb rule -
'Safety First'

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