sir, I beg to differ. I wanted to respond during morning but did not so as to take time to understand what you are saying and also to see if the market is responding as you have analyzed.
JP associates - since 5th feb, the stock is taking its support with volumes. Now the volumes are reducing while the stock is moving up; that is selling pressure is not there on the up move. it is likely to touch 138-143 within next couple of weeks.
HDFC Bank - double bottom with strong volumes. Today's volumes are less while the candle denotes selling pressure. But the selling pressure is backed up by very low volumes; in other words, it is not gonna make downmove successful. 1700-1750 are expected targets for it within next couple of weeks.
Sterlite - still doubtful regarding any upmove; but even then could not be shorted. the bulls and bears are at par as per the todays candle; the downside is very limited while the upside is open. any positive move with volumes may cause pain to shorters.
Unitech - chart speak of itself. strong volume upside white candle with support in back ground. no stoppage till 80, thereafter, it has to be analysed again. shorting can be troublesome.
Nifty - very risky at this time to go short. Today's volumes were less but the bar was quite positive. It may denote two things, either the upmove is not backed up with proper volumes OR the backing up with volumes have already been there in the back ground. I am depnding upon the latter. If foreign markets donot play any joke, there is no stopping in nifty till 4876 and then 4951.
