The power of 200 Dma worked out this time. Sometimes it does not work and even in strong Bull market Index do trade below 200 dma for some time and then again bounce back above it. Our markets where the growth story is intact are trading near 200 Dma and are below 150 DMa. US markets are trading above 150 Dma where the economy recovery is still doubtful.
Market may witness a bounce back on the pre- budget expectations.As long as Nifty is trading below 100 DMa weakness will persist.
The best way way to trade is trade with small quantity and add as we move up.
Shipping Corporation has support at 145 and resistances are at 167-180
GMDC has support at 136 and resistances are at 172-185
Tuesday, February 9, 2010
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