Friday, November 18, 2011

Nifty is trading between range since August

Nifty is trading between range of 4900 ><5200 since Aug 01 ..will it stay in range ???
Since July 1990, the Nifty has witnessed a six day fall on 86 occasions (including the current one). Of the past 85 times, the index has been in the positive on the 7th trading day 45 times and 40 times in the negative.
Traders are feeling that equities are affordable and they are buying...
EU crisis creating panic and pressure is coming due to margin calls triggering ...so we are witnessing sharp fall every day...
It is Friday ...small  traders will try to book profits and big players wont allow them to take money at higher rates..so we may expect market will stay in red zone in first half ...and then 60 % chances of upside bounce....and closing just above 4900  4950 ...

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