Nifty has closed the crucial 4625 level. This is the trend maker & breaker level.
Any successive close below is a confirmation of very short term trend reversal.
If the NIFTY trades above & closes above 4625 it will be + ve for the markets & short term uptrend will be intact.
Remember what I had said on 31 Aug 09.
Q outing the same again .......
" When all the experts on TV , FORUM, PAID SITES NEWS PAPERS are predicting a rally beyong 5000 I will try to Short sell 4900,5000 , 5100 & 5200 Calls when the spot nifty trades in between 4810-4850. Although I will be closely monitoring my positions & my stop loss will be say for 4900 call .... 4900+premium amt ( rate at which short sold) = Spot Nifty ... like wise stop loss for 5000/5100/5200 calls
Let the experts be on one side I will be on the OTHER side & hope the ALMIGHTY will prove the heard wrong.
I always bear in mind that " ALWAYS EXPECT THE UNEXPECTED FROM THE MARKET"
Markets have corrected and proved the majority of the analyst WRONG.
If the Nifty trades below 4550- 4560 level ...........We may very well see 4500 - 4480 -4460
Tuesday, September 1, 2009
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