Wednesday, March 25, 2009

How significant is today's retracement for March expiry??


NIFTY lost significantly today after reaching 3000 levels. Though the retracement seems significant from the intraday point of view, it is very much insignificant when compared to the long white candle made on 23rd March session. It is still very much in bull zone. Only on a further dip and close below 2868 levels will the bullish stance be reversed for this expiry. Till then there is always a possibility of 3000 levels to be broken again on the up side and a further move towards 3056 - 3100 levels is very much possible. 
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