Weekly Review for the Week February 24th – 27th 2009
We said ‘The weak ahead is a budget week and we have no idea what surprise is in store in the budget front but technically the market still looks up and has thrown in a very crucial support at 9445’ The market opened and cracked the crucial support of 9445 and weakened to close negative for the week.
Technically the market looks weak and we are into an F&O expiry week with just 3 days left for the expiry and once again the market could be volatile but the market looks sideways with no clear signs of any direction but the bias could be down
The supports are at 8631 and resistance to the up move is at 9229-9789
The supports on the way down are at 2662 and resistances on the way up are at 2839-2970
From a trading point of view I would be cautious, as the structure is sometimes suggestive of a violent pull back
source: PrakashGaba
Tags: calls, daytrading, free calls, intraday, tips
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