Morning update Fri, 21st Nov:
Yesterday, it was mentioned (breach of 2490 could weaken the nifty further to taste 2430) but the support acted well enabling some recovery by short covering. It influenced a ‘false’ sense of bullishness among many to generate calls to go long. However I was clearly mentioned in Thursday update………….(Though there are some chances for downtrend prevailing on Fri too, the traders should book profits at the EOD today, and re-initiate fresh after opening on Fri)
Today, expect yet another weak open and it’s better to concentrate on intra-day trade only. The breach of 2490-2480 can drift it further to 2430. However in recovery mode with other Asians counterpart, it may try to reach upper resistance levels at 2580(if 2430 support sustains).
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November
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- Morning update Wed, 26th Nov:
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Investment in stock markets is very risky(so it is always better to advise others than trading own). Any analysis is not 100% accurate and for best results, always check charts (?) before investing or trading. No responsibility is assumed for any adverse consequence resulting out of acting on them. Lastly, the blogger may have positions (opposite too) in the trades mentioned in this blog.
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