July 24, 2008

Intraday View For 24/07/08

Nifty: Resistance 4488/4536/4554/4646
Supports 4450/4376/4355/4334

View: As I was writing continously 'do not short' at lower levels, still I know many people didn't heeded to my words & are now trapped in shorts/puts. Market rallied almost 18% in one week. All frontliners are up by almost 15%.
Those utilises this dip to buy, may book 60% around 4520-4554. Market may retrace a bit after a continous rally, as consolidation is also must in such market for fresh upmoves.



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