Live Market

Monday, October 4, 2010

The Banknifty Has come longway right from 9200 to 12700 level.Almost a non-stop rally that firm footed and keen in reaching it upward destination beyond 13000.Today from the Market opened in gap up and lot of runaway gaps seen in nifty and banknifty and banknifty achived a day high of 12787 and made a steep fall down to 700 level.

Today we made 150 points in banknifty intraday swing trade between 12680 to 12740.We made many attempts for 30 points and the market was in full support as the volatality was good today.

The Ew 3rd wave correction is due, but as of now the market indicates - 'nothing' of such correction signals...the runaway rally is on and we may take this as an attempt to reach peaks, just before the exhaustation / decline state. I wish the trader to be more cautious and make out all trades in intraday with strict stop loss.

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