October 14, 2008

Intraday View For 14/10/08

Nifty: Resistance 3535/3580/3600/3636/3699/3720/3750/3773-3883
Supports 3458/3346/3333

View: Nifty gave a strong bounce after getting beaten last week. Dow Jones closed 11% up giving a strong opening chance today. Look out for strong resistance at 3773-3883. Avoid buying at higher levels or near to resistance zone. Shorters feeling trapped now & we said to avoid short selling at lows near to support area as we were in badly oversold. Try to exit your longs in every rally.

Core project corrected 100%+ in just 2 trading session. Risky Positional Players May buy near 62 For tgt 82-95+ SL 55 (Closing basis)

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