Tuesday, February 24, 2009

RETEST OF LOWS.

With U.S. markets breaking its low causes pressure on Asian markets. For Indian markets, NS 2660 holds the key. Today's trading strategy should be to watch NF 2688. If it bounces from there and holds 2708 , we can see 2739-2744. Below NF 2684, we could test 2645. For strength to come NS should be over 2762. Asian markets rallied yesterday from their oversold position wheras we were closed and this being the settlement week, trading could be tough as one can get caught either side. Today's pivot is NF 2723. Use high of NF as S.L. for any shorts as indicators are giving positive divergence and bounce back is likely from this zone .