Friday, May 15, 2009

VIEWS FOR 15-05-2009

What a volatile day we faced once again, we broke down 3585 but bounce back again. But on the upside we could not cross 3646. Friends I am suffering from a viral flu, so i am just giving the levels for coming session. I'll post full fledged analysis by next week for sure. On the upside above 3620 it can move up to 3643 and 3689 respectively. Big support lies around 3569 odd level. below that 3531 and 3505 is possible below which one may consider positional shorts. It will be once again a highly volatile kind of a market, where very few traders can trade successfully. Be light on your position. So for the coming session,

Support: 3595-3668 (important)-3530-3505
Resistance: Above 3622 -3646 (important)-3686
(All future levels)

Friends tomorrow will be the weekly closing , after that we will take poll result cue, and it can be a relatively bigger move than the last few days. I'll request traders to be empty with future position. Risky trade can opt for a strategy by taking same number of out of the money calls and puts, i.e 3900/4000 CE and 3500/3450 PE. Big move can give a handsome return in one of them without eroding the the other one entirely. But i repeat it's for only risky traders who has the capacity to take moderates losses and quite aware of the risk. Trade very carefully, Take care.

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