If it constantly trades abv 47oo,we soon get the 4950 to 5000 mark.so 4700 is crucial & pivot for market at this point of time.
Once it breaks the 4700 level we may see the 4550 or below level soon.
Sunday, November 8, 2009
POST MARKET ANALYSIS 6/11/09
Market was volatile after touching the intermediate resistance zone around 4830 level & was moving in the narrow range with support at 4747
If it constantly trades abv 47oo,we soon get the 4950 to 5000 mark.so 4700 is crucial & pivot for market at this point of time.
Once it breaks the 4700 level we may see the 4550 or below level soon.
On friday & before G-20 meet profit booking was seen.I sensed market still has some steam left to have go to upside.How much,the time & those supplying zones like 4860 to 4880 will tell us in which direction market will move in the next week & onwards.So be alert on every up or down move.That will give u oppertunity either to go long or short.Get some idea from chart.Have a good week ahead.
If it constantly trades abv 47oo,we soon get the 4950 to 5000 mark.so 4700 is crucial & pivot for market at this point of time.
Once it breaks the 4700 level we may see the 4550 or below level soon.
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