Market Forecast for 16.04.07
The market behaved positively on Friday and the bulls had their laugh. All the sectors gained during the bull run and nifty gained 2.28%. But one most note that it is not all over for the bears. The Nifty will face stiff resistance at 3924.55 and the bears will take this opportunity to take the nifty back to 3900-. If the nifty closes below 3812, the bears will have a laugh since the market is technically in a overbought zone and one day will be enough for the bears to reverse the gains of the last week..
On 16.04.2007, opening will be flat to gap up by around 35-50 points,and if it remains above 3915+ keep long with SL of 3900 for 3960-3990 and if it breaks and remains below 3900 go short with SL 3915 for a downward target of 3880- 3850. The market is expected to be in the grip of bulls and if it breaks 3980 on a closing basis, then we can expect some new highs soon. Since 16.04.07 is expected to be a trend decider day, i request all investors to trade in the market with utmost caution and safety. please follow safe trading practices.... SAFE TRADING.....
The market behaved positively on Friday and the bulls had their laugh. All the sectors gained during the bull run and nifty gained 2.28%. But one most note that it is not all over for the bears. The Nifty will face stiff resistance at 3924.55 and the bears will take this opportunity to take the nifty back to 3900-. If the nifty closes below 3812, the bears will have a laugh since the market is technically in a overbought zone and one day will be enough for the bears to reverse the gains of the last week..
On 16.04.2007, opening will be flat to gap up by around 35-50 points,and if it remains above 3915+ keep long with SL of 3900 for 3960-3990 and if it breaks and remains below 3900 go short with SL 3915 for a downward target of 3880- 3850. The market is expected to be in the grip of bulls and if it breaks 3980 on a closing basis, then we can expect some new highs soon. Since 16.04.07 is expected to be a trend decider day, i request all investors to trade in the market with utmost caution and safety. please follow safe trading practices.... SAFE TRADING.....