It is true that nifty is facing resistance @5367 level, But i don't think it is wise to short at this juncture as the market is trending up and there is no weakness globally as of now.
But there is a fact that global recovery is a bounce back from the lower level after a huge correction. But our market has not corrected. In this scenario, time will tell that our market will also move according to the global markets.
One has to keep it in mind always that There will be a huge confidence or will feel very strength in the market at the higher level, and all technical analyst will tell, market will go upwards, but personally I feel that "that is the best time to exit from the positions."
These are all my personal view only!
regards
noufal
From: sharetrading. moderator <sharetrading. moderator@ yahoo.com>
To: sharetrading@ yahoogroups. com
Sent: Fri, July 9, 2010 3:42:43 PM
Subject: [sharetrading] Re: level for today Watch out for 5367
Right Abe
This would be a more logical step
SM
--- In sharetrading@ yahoogroups. com, "A P Abraham" <abrahamap@.. .> wrote:
>
> Let US UK markets signal shorting. Till then trade near that level...
>
> -----Original Message-----
> From: sharetrading@ yahoogroups. com [mailto:sharetrading@ yahoogroups. com] On
> Behalf Of sharetrading. moderator
> Sent: Friday, July 09, 2010 12:43 PM
> To: sharetrading@ yahoogroups. com
> Subject: [sharetrading] level for today Watch out for 5367
>
> Technical analysts say 5367 is a crucial level for today
> Reversal could take place at this level
> Some technical analysts advice shorting at 5367
> SM
>
>
>
> ------------ --------- --------- ------
>
> Please use your discretion before acting on the ideas expressed in the
> group.
> Happy Trading,
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