Tuesday, July 28, 2009

A rest day and bull run to continue ?!


Yesterday market made a new high for the july month series and formed a doji at the top. It looks like a pause before the next significant move and there are just three sessions remaining including today for this month series to end.

Looking at the overall picture, the expiry should favour only bulls and bears have been completely trapped for this series.

A move to test the year high at 4693 is also in the cards and looks like there will be a test of 4659 levels within 2 days.

It is again better to wait and watch today and at the end of the day tomorrow position oneself for a bullish expiry.

Resistance levels : 4605, 4630, 4659

Support levels : 4550, 4502, 4485


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Happy Trading
www.tripleint.com

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