Astro Info :: Moon posited in Pushyami ruled by Saturn .
Market Outlook for 28.5.09 :: Market expected to open steady and remain generally subdued to become weak after 1.30pm. However, inview of the F&O expiry day, scrip specific movement would be there. Technically market is extremely bullish and it is only astrologically, market is expected to display above movements and may close weak. Above guidance may be adapted considering the intraday market movements.
Trading Strategy for the day (28.5.09) :: If market (Nifty futures) is trading below day’s average traded price by about 1.30pm, short positions can be considered with day’s high index or Average treded price plus some points as stop loss and traders can ride the bear move.
Strict stop loss is advised for intraday traders.
Advance Outlook for 29.5.09::Market is expected to open steady and recover smartly from 11.45and and to have two way movement after 1.30pm.
Technical Levels for 28.5.09:: Nifty futures bullish above 4286 with resistance around 4312, 4333, 4367 and bearish below 4269 with supports around 4244, 4222, 4188 for the day…(extended range 4423 on the upside and 4123 on the downside)
(Market closed very high bullish on the penultimate day of F&O expiry and there could significant short covering on the last day .)
Happy trading …
Dr. B Amaranatha Sastry
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