1-Jun-2009
The next few days are going to be decider for the stocks market as the indices have seen huge run-up and are very close to crucial resistance levels. Most of the index stocks have shown a rally of almost 40-60% in last 1 month. During this week we expect that markets will trade in the range of 14180-15200. So traders shall trade on the long side with lower end on range as the stop-loss and also should try to exit the positions at around 14900-15000.
We expect the overall really to continue only if the Sensex manages to close above the level of 15200 on a daily closing basis and Nifty above the levels of 4633. If this happens we may see this rally continuing upto the levels of 16475 (BSE Sensex) and 4920(NSE Nifty).
So we would advice traders to build short term long positions only above these levels for handsome gains
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