Astro Info :: Moon posited in Revathi constellation ruled by Mercury which is retro
Market Outlook for 21.5.09 :: Market expected to open subdued and recover (sharply?)from 12.00pm and remain volatile with fierce movements eitherside after 2.00pm.
Trading Strategy for the day :: Long positions may be initiated before 12.00pm with day’s low as stop loss as sharp / good rise can be expected from 12.00pm and such long positions may be closed by 2.00pm or be continued with trailing stop loss depending on the position.
Advance Outlook for 22.5.09::Market expected to open steady / subdued and remain generally steady / subdued thereafter to recover sharply after 2.00pm . (This is intended for taking overnight positions)
Market is generally bullish and hence any sharp fall may be utilized to cover any short positions / take long positions in respect of bullish stocks.
Technical Levels :: Nifty futures bullish above 4291 with resistance around 4317, 4339, 4373 and 4428 and bearish below 4274 with supports around 4249, 4227, 4193 and 4137 for the day…
As market was in a narrow range, Nifty fut moved between 4374 and 4260 on 20.5.09, levels indicated for 20.5.09
Happy trading..
Dr. B Amaranath Sastry
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