Archive for May, 2009

Nifty 28 May 2009

Thursday, May 28th, 2009

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Monthly Chart – May 2009

Thursday, May 28th, 2009

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Nifty 27 May 2009

Wednesday, May 27th, 2009

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Nifty 26 May 2009

Tuesday, May 26th, 2009

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Nifty 25 May 2009

Monday, May 25th, 2009

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On vacation: There will be no updates from 25th May to 31st May

Monday, May 25th, 2009

I am on vacation and will not be able to update the site and blog from 25th May to 31st May.
Sorry for the inconvenience.

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Happy Trading
www.tripleint.com

Nifty 22 May 2009

Friday, May 22nd, 2009

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Tug of war continues…Still can take either direction

Friday, May 22nd, 2009

The tug of war is continuing. Yesterday again there was activitiy around 4300 levels, but bears took charge in the end and were able to bring NIFTY to test 4200 levels.

The volumes have reduced significantly and even market participants are waiting for a move either side before they can take a position.
The dust doesnt seem to settle down so fast and next week being the expiry week, we can see some more erratic action kicking in.
There is also a clear possibility of a sudden move on the upside to trap the late bears of this week and so no position is the best position now.

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Happy Trading
www.tripleint.com

Shrinking range.. How soon will there be a breakout either side

Thursday, May 21st, 2009

For the past two sessions, NIFTY is shrinking and is beginning to move in a tight range. 

This doesnt give a chance to both bulls and bears and both are still hoping that there will be another breakout in their favour soon. 
How soon will that happen?
This is quite difficult to answer and till the time any of the levels of 4500 or 4200 is breached, forming a view going forward also becomes difficult.
Yesterday 4300 was established as a good support the whole of morning session and suddenly in the afternoon 4300 became a strong resistance. So there might still be some action left here and there around 4300 levels before NIFTY takes one direction. 
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Happy Trading
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A perfect doji..Market can take any direction

Wednesday, May 20th, 2009

Yesterday was the first sane trading day after the circuit day. Lot of short covering seen initially as well as profit booking from longs and markets settled at the previous session close.
There was heightened volume seen. The doji certainly signifies indecision and market can move either side.
It is facing resistance at 4500 levels and support is seen at 4200 levels. A break below the day’s low and a retest of 4000 levels is certainly on the cards in a couple of days, but will it break the high and scale new peak is what needs to be watched now. 
It is certainly unsafe zone to enter either side now and it is better to sit and watch for some more time. The dust has certainly not yet settled.
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Happy Trading
www.tripleint.com