Aug 8, 2007

Strategy to Trade the Market at this Point


well we made a top at 4550-4650, hv come dwn frm thr, touched the support 4300 and now we are moving up,. fib and 200 ema supports were at 4150, 4080, but nifty took its support at 50 ema( prev top) , and we are up. the qstn is the correction over? or still some pain is left? if we see the candels , thr wr two gaps, between 4620-4450 on 27/7, and 4530-4350 on 1/8. but i think nifty may retaste the prev lows to fill the gaps before finally moving up.
nifty spot has res at4530 and support at 4400 ,
fresh strong funda stocks accumulation is advisable at these lower lavels. supports are 4400,4360,4300,4260,4180,4050last
stocks to watch, LT, bhel, rpl, idea, rcom, suzlon and dlf

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