Daily trend of the market is down.
Dow has closed above its resistance level of 8800 which has given a technically uptrend signal to Dow. We can also view more positive signals emerging world wide. We are seeing a fall in Dollar Index and a corresponding rise in Commodities. A rally in Asian Markets can be observed. There have been lots of negative news emerging, but they are unable to bring the markets down.
Now some unanswered questions are –
-Whether the worst is over? (This is a billion Dollar question)
-US Recession started in December 2007, but was realized only in December 2008. So will the people realize in December 2009 that the recession was over in January 2008 ?
-A bull run is followed by a bear run, so now is the cycle of bear run over?
Technically speaking the U S Markets seem to have bolltomed out but one cannot buy without having stoplosses
A decisive closing above 2800 Nifty Index will trigger a short term uptrend . If Nifty index closes above 2800, then buying positions may be created in the market
_______________________________________________
Percentage above support
Percentage above support is still below 50% (today it is 24%) so we recommend that no delivery should be bought at current levels.
__________________________________________________________________
Strong Futures
This is list of 10 Strong Futures: NDTV, BEL, Nagar Const, LIC, DR.Reddy, Jindal Steel, Sun TV, TTML, NTPC & IDFC
Weak Futures
This is the list of 10 Weak Futures: Jindal Saw, Havells, Voltas, M&M, Rolta, Tulip, Ansal Infra, BRFL, Purva & Bhushan Steel
_____________________________________________
Disclaimer: crnindia.com does not warrant or make any representations regarding the use or the results of the use of the materials in this site or other sources in terms of their correctness, accuracy, reliability, profit, or otherwise. crnindia.com does not guarantee the accuracy or completeness of any information and is not responsible for any omissions. crnindia.com clearly states that it has no financial liability whatsoever to any user on account of the use of information provided on the website or email.
__________________________________________________________________
No comments:
Post a Comment