Thursday, April 7, 2011

Dhanvarsha crucial Nifty Futures Levels and market prediction


 Almost flat opening is expected with extreme volatility , higher crude prices creating pressure on economy …Indian rupee is gaining strength which is impacting on margins of IT companies as IT companies are doing well in $ terms ,maximum indicators are at over bought zone . Japanese candle sticks  are giving reversal signals in many stocks …volume increased yesterday as profit booking was noticed so  now market is in short term sell zone…advised to book profit at each swing high as market lost its upward momentum and now trying to breathe here ….but crude … at Sept 2008 level and what was the impact of it, is well known …no change in Nifty open interest is showing that majority of market participants is confused …where to go.. up or down …and rolling over is quite easy ….so get ready to roll over….FIIs initiated short position in index futures yesterday ….or booked profit not sure but they were net sellers in index futures …
Have a gud day
Use stop orders to protect your profits ...

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