Live Market

Monday, May 24, 2010

Where The Market Leading To...

Inspite of a gap up opening today...The market was changed its direction from bearish to bullish and in the the end of todays trading the market was not able to maintain its 'Status Quo'.The banknifty day high was 9290 and closing it came down to 9040.00Level. We have done an excellent trading today morning we gone long and kept our SAR @9188.00 and it was triggered and we covered 50% of all our shorts @9110.00level and rest we covered near the day low's and gained good profits in intraday trading.
About a month ago,after hearing the 'Greace' news we wrote in this site:- just the 'tip of an iceberg' and afterwords the world cue's were in negative trend...The different nation's and its goverments are finding difficult to manage the situation by various means to sustain&maintain the crisis...The German Goverment is one among them..The global cue's was showing green for a while but the real situation starts prevailing and shows it strength agin in negative..In today- our maket was showing strength and as if, the correction was over and the rally is on!!!. But the Banknifty and nifty was closed in red.
The Banknifty was finding it difficult to cross over the 9280 level.
i saw a huge selling was happened in range 9220-45 level and that gave a confirmations, the banknifty is still in the down mode and today closing too favours the down trend.Let us wait for the tomorrow opening and trade may be that will give the clear indication of the Market direction.

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