Sector Movement

Lets take our discussion on sector move a bit further. The readers of this blog can remember that in our September 13 post we told you about the movement in Banking sector . http://swingtradingideas.blogspot.com/2009/09/keep-banks-on-ur-radar.html
http://swingtradingideas.blogspot.com/2009/09/some-weekly-trading-ideas.html

We mentioned about PSU Banks moves on charts. When a sector is in strong uptrend it corrects and then resumes its uptrend with greater force. Today we saw this happening in banking sector. We saw secular moves in all banking stocks . Private and PSU bank stocks all had a great rally today.

Tomorrow is the last trading day of the week. I intend to book profit in all my positions except in Bharti Airtel. Bharti Airtel - MTN deal is off and this may prove good news for the Bharti . Form here on the downside is limited and a relief rally is expected.This was our weekly pick also.
We are going to have a long weekend.
You can also use the time to read good books . One such book I would recommend as a trader is " The Power Of Your Subconscious Mind" by Dr Joseph Murphy.