Today's big fall was as expected. Needless to say, my participants of intraday workshop would have surely traded downside and earned bigtime. . . (I was expecting a some of them to call me, but anyway).
Nifty has got the resistance as indicated and it has closed below the crucial 5000 level. A further weakness would be suggested by a close below 4945-4950 levels tomorrow. This is likely since world markets are likely to continue the weakness. . .
Moreover the weekly charts are still negative and they suggest that a weekly close below 4920 may make them further fragile.....
Resistance in upmoves is at 5010 - 5025 levels which may be used by 'long' traders to exit for the time being. . .
Happy Trading !
If you are interested in joining the SuperTrader workshop series, please register for a Free discussion seminar on Sat 5th June... This seminar will give you an overview of how the SuperTrader series will be beneficial for your trading and also brief you about the broad contents of the course....
Thanks
CA Rajiv D Khatlawala
www.investogyan.com
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