Sunday, November 23, 2008

Is there a rally ?

With the NSE closing at 2700, also its high for the day, the US markets closing with 5%+ gains, there is the strong possibility that Monday could see a follow through rally. Any up move could see resistance at 2900. At this level, some profits should be taken.

How to Trade:
My suggestion is to go long if a buying signal comes in.
Traders can use the The Fifteen Minute Rule to enter. A second method is to wait patiently for the markets to go thorugh an intra day dip. Buy this dip, with a stop below the day's low.

The Market is extermely oversold. Now, this means nothing since an oversold market can get even more oversold. But, for traders, given the slight indications of an up move, short term buying may be easier for the next 1-2 days.


tushar said...

"oversold market can get even more oversold"
well said sudershanji
This is one of the main rules this bear market has taught.

News That you can use