Sunday, November 20, 2011

Technical Call for day 21 Nov 2011.


In our last article, we were talking about some very early bullish sign of reversal of trend in Nifty and for that to happened next day conformation needed. And we seen continuous fall in Nifty, but last Friday’s trading is different, we experienced good recovery or bounce from day low in Nifty and others many stocks as well.  We can hope that day low will maintain as a strong support in future and we will see some kind of bounce back in markets.
In F&O front, open interest in Nifty is at higher level or we can say there are most of traders already did short in Nifty. If we follow contrary thinking, there are very few traders left to go short. Definitely all these shorts consumed by strong hands, if Nifty doesn’t fall from this level we will surely see good rally going forward.
We are hoping that Monday will be reversal day and Nifty will reach 5050 before expiry.
On stocks front, we are positive on Hindalco and Reliance Industries.

Hindalco can be bought above 124.60, target is 134-135. SL around 120 on closing basis.

Happy Trading....

See syllabus for Technical analysis training in Mumbai,India.

Please read our disclaimers before investing http://tradingkamai.blogspot.in/p/disclaimer.html

No comments:

Post a Comment