January 9, 2011

Nifty Review

As title of 6th Jan NF update said- "b"shape long liquidation ??  Bears took control form the open of market, with no support coming from responsive buyers NF  closed 2.6% down with above average volume.Fall is too much too fast. Now whats next ?? I have marked Trend lines on chart.
In Market profile terms last week NF made overlapping higher Value area but closed well below last two weeks low.Very bearish,Hitting 3 VPOCs on the way down. @-)

Lets see on Monday, how market opens n whether it  continues its move down or get some Bounce to 5940-5960.
If we  see some recovery, stocks to watch are,
Bank of India @ 450 +1.6%(chart in earlier post ), Bank of Baroda @848 +1.2% are stocks which closed positive.

About earlier stock chart posts..ABAN hit stop loss of 772 on closing basis.

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