Thursday, April 22, 2010

Market seems exhausted

Banking sectors did have a follow up yesterday but it failed to take Nifty to key resistance level of 5300. It remained volatile . Going forward  though  a lot will depend on global cues but on chart Nifty seems exhausted .Nifty will have upward momentum only above 5400.
One should also look for shorting opportunities at higher levels.

Jayshree Tea has corrected a lot  and it has support at  285 and resistances are at 305-314-322.

Ge Shipping  can become a sell candidate only if it trades below 330 with stop of 340 for a target of 320-315

Trade well.

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