Hope you had a great weekend. My plan to write a post yesterday night went for a toss after some guests. So woke up early to study some chart and find out if some possibility exists for posting before leaving for office... oh these Monday mornings.
Well, the NIFTY chart is pretty interesting. On a weekly basis we are still going down with the resistance being at 5360... the same level as per our earlier charts (The upper trend line). Support levels are also not changed too much. On a daily chart however, there is a gap created on Friday which I guess would be because of trading holiday on Thursday. Our markets had to catch up after joining the party so can't read too much in to that. Will write about significance of Gaps on Equity Blog.
Right now the chart looks like something like this.
Friday closing prices of NIFTY 5100 PUT is at 52 Rs and 5300 CALL is at 43.20 Rs and this is what I will get in to after looking at how the market behaves in the opening hour. Don't forget to read How to Identify the Trend and also this before trading.
My earlier experiment of posting from mobile worked well so will resort to that I get time and if there is some change in above.
Happy Trading and have a great week ahead.
Very nice blog to read! I like the fact that brokers share their feelings and explain their actions and thoughts. this is becoming increasingly rare these days with the crisis. Good luck for the future.
ReplyDeleteHey there, what makes you think I am a broker? Far from it, I am just a normal person working in IT industry who doesn't get enough time to trade or blog...
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