DATED : 8th May 2009
Friday, May 8, 2009
Today Short Term Trend : Up CNX IT Key trend decider 2720...... Wait and watch, higher level selling opportunity Short Term Trend : Up. Trend Reversal : 2562 BANK NIFTY: Key Trend Decider 5115 . Today watch the USA Bank Stress Test Short Term Trend : Up DOW : After a sharp down ward jerk, strong movement were seen in Dow and recovered to end with a mild loss. Presently small trading range between 755 to 8100 and struggling to find direction in either side. A break out of this range should set the intermediate term direction for this index and rest of the global equity indices too. Close above 8100 heading towards 9000 + in short term Short Term Trend : Up and waiting breakout HINDALCO: Above 60 we are long in this counter..... Today it will resistance 73, 75, thereafter do not remain short. NTPC: Trend Decider 188 Down side strong support 189-190, crossover 195, one side move and it will test 202 mark. Then immediate target 210 mark. Major consolidation phase. JP ASSOCIATES Close eye 143.... Think to buy above that level, otherwise intra day selling opportunity. RNRL : Trend Decider 58. R POWER : Trend Decider 127. GMR INFRA: Trading range 113 to 123, break out in either side, sharp movement can not be ruled out.
Key trend decider of this week are 11285.
Close watch support level 11981, 11899, protected of this level, it will test 12400-12472.
Next Target : 11850-12000(achieved) now 12500
Trend Reversal : 11430
Next Target : All target achieved.
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Next Target : 5500-5800
Trend Reversal : Close below 5200
Next Target : 8500-9100
Trend Reversal : Close below 7500
As hold 59 bull will charge and target are 65 and above shortly.
Catch it......Hold 131 looks hot and decline to buying opportunity.
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