Tuesday, September 9, 2008

caution..


Caution is advised for those who hold long positions from 4350, where I had suggested to go LONG. On 8th Sep, NIFTY could not close above the left shoulder of the Head and Shoulders . This indicates that there is a high degree of resistance at this level.


I expect an extreme high volatility today with a negative bias. A drop below 4400 will be a signal to exit LONG position and a close below 4365 will be a signal to go SHORT.

The Straddles mentioned can be held.

Disclaimer: The views expressed herein are to be used with your own discretion and neither analyst nor the publisher will be responsible for the outcome.

MASTERSTROKES