3975 = ideal target for corrective 3975-3960 rising channel already mentioned this in my old analysis
but gotta also account for possibility of
failed flat, ie no new lows 4040 holding
or triangle 4074-4066 area to hold.
3975 came to me in a flash
just like hero honda 720
hero hit 718 in spot but in futures didn't go there so i didn't make much.
Dreaming up levels is fine
One must not trade on hope or illusions but on a definite plan
just take the next buy signal on the automated system.
http://niftytraders.blogspot.com .
remember the call setup
if you can get 4000 call for
100-120 its an ok buy target 200-240-300-340-400-440 in may itself.
All bullish views are founded on 3900 holding
If it doesn't hold game over.
Suggestion1: Look for stocks which are doing this to go short on.
Suggestion2: Only take eod shorts on stocks which close under 13/21 ema/previous swing highs/lows.
Do not try to short stuff like rcom
that would be a counter trend adventure
By all means look to sell rallies in cipla/icici/indhotel.
Fed meeting=wednesday
Market might make a confirmed move to upside by thursday.
Tuesday, May 08, 2007
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