Nifty:
Previous close - 4746.35
High - 4818.50
LOW - 4628.20
Close - 4651.60
Change - (94.75)
Today
In long run, the market is still bearish and so is the short term.
The markets closed with significant losses with the Nifty closing at its two year low. The Sensex closed at 15491, down 345 points from its previous close, and the Nifty closed at 4651, down 95 points. In today’s trade we again saw the nifty's inability to cross the 4827-33-40 decisively at upper end and just after slipping below 4700 market hitting the new two year low. Today, lower end 4644-4633-23 where the market found some support but may be only because not enough time left before day close to go lower.
The forecast for Monday;
1) If the market opens between 4600 to 4612. Buy after the market has moved up passing the levels between 4633 – 44 and book profit between 4685 – 4710
2) If the market opens between 4675 – 95 and above, short with stop loss at 4720-33.
3) If the market opens besides the above, I do not know, up to you.
That is about all.
Have a nice trading day, guys.
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