Today, was a good day for the markets as we came out of a 14 month channel and closed above it, however telco's except Bharti and Idea got hit. Supreme Court will investigate Chidambaram's role in the 2G scam, we can see update on that on Saturday, If we get a negative news in might have an impact on the markets.
We need to trade on low volumes and need to be stock specific, and need to keep booking profits on every rise, markets are critically poised, some more momentum and we can easily see 5400, however stop need to get tighter, my new stop for tomorrow is 5210.
Dow Jones Industrial Average rose by 24.49 points in the first five minutes of trade. Seems like this could push the rally in the Indian Markets too. Time to sell some stocks?
ReplyDeletewe reached today 5334.85 which is closely moving towards your prediction. what do you forecast for Monday and which stocks do you recommend to book profit if we were long.
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