With the surge in overseas markets while we were holidaying for electing a new Govt. It is most likely that our markets will have GAP open on Monday.3600 and thereafter 3650 seem to be the probable targets for the coming week.
From these levels, the risk reward ratio is turning against new buying at current levels, as the time window for upmove may end around 15.05.2009.
Also note that Monday will be beginning of a new month and hence Opening levels on Monday will be of much importance.
Happy trading,
Ketan Asher.
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