Readers who went short in nifty future and L&T as we had written would have had a nice trading day at the market.
Tomorrow is expiry as well as last trading day of the year.
Link to yesterday's post : http://jerrytechnicals.blogspot.com/2009/12/indian-stock-market-outlook-30-december.html
Nifty
Nifty will face huge resistance at 5190 tomorrow. Breaking and trading above that level with volumes, nifty can move to 5220 and 5270.
On the other hand, breaking and trading below today's low of 5155, nifty will move to 5135, 5115, 5095.
ICICIBANK - Short Pick
ICICIBANK looks weak on charts after reversing from a strong resistance zone.
ICICIBANK future may be short sold around 880 with stop loss at 890 for targets 866, 860, 850.
Disclaimer : This is not a recommendation/ solicitation of any order to buy or sell, but Jerry's view on indian stock market. I assume no responsibility for any opinion or statement made in this blog. Readers are urged to exercise their own judgment in trading. Readers shall solely be responsible for profit/loss.
adword : A two idiot explodes a sphere
1 comment:
Wish you a very happy and prosperous new year Jerry. You have been a total rock star of technical analysis.
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