NIFTY HAD A BLACK TUESDAY!!!!
Nifty opened today @ 4654 down 45 points. It made a brief attempt in the early session @ 4735, But met with heavy selling above 4700 Area. Below 4650 it sold off vigourously, closing at almost the low point of the day @ 4531.
Todays Nifty selloff was huge and with heavy Volumes.The only hope of some support is @ 4350 Area which stands as a major support for now. The sellside momentum is just too heavy, But nifty is oversold at these levels.Nifty has to close above 4850 Area to stop down trend and make any attempt towards 4950 - 5000 Area.
Our View on Nifty Futures is Bearish. It has Broken some important levels on the way. The most Important level to watch is 4350 on the downside. If this is broken, It sould swiftly head towards 4000. And on the upside, Nifty has to close above 4850 Area to make a fresh attempt towards 5000 level.
Our Closed trades for today:
Banknifty : sold @ 8510 ( 30.10.2009)- Bought @ 8190 ( 3.11.2009 ) = Profit 32000/-
HCC: Bought @ 127.75 ( 3.11.2009) - Sold @ 124 ( 3.11.2009 )= Loss 7875/-
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We have maintained trade by trade performances along with Equity Curve and ROI(Return on Investment) for last 20 months.It can be viewed at the following links:
www.aaksharstock.com/equitycurve.html
www.aaksharstock.com/roi.html
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