It is noteworthy to mention the Budget session has ended peacefully, letting as usual the market to interpret the pros and cons.
For day traders like me, these incidents however do not make any difference, so long as I know what I am doing, why I am here and how I am doing.
Nifty had survived my support, 5234 that I had mentioned on 24th instant and from thereon gained another 200+ points, mainly due to the fact the fall to 5234 on 24th instant was absolutely without any strength.
From my charts, it looks as though chances are looking bright for yet another test to 5234, in the event of breaking 5291 with 5396 posing a strong resistance.
Tata Motors on the other hand, after experiencing terribly choppy sessions still looks vulnerable and weak, nevertheless giving excellent opportunities for day traders. I peg my supports at 1052 and 1038 with 1103 and 1132 as resistances.
Healthy And Wealthy Trading
Related Articles
- Nifty Analysis 23 Feb 2011 (niftybaba.wordpress.com)
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