Market View 23/04/2009


Said Arjuna:
"O Janardhana, if you consider that intelligence is better than actions, then why are you asking me to perform this ghastly action?"
[Chapter 3 verse 1-Bhagvad GITA]
Its 2 way game in the mkt for last few days..And For intraday playerintelligence is better than actions so some low volume on cash segment considered compared to las 6-8 segment and it will continue in coming days.
Yesterday many stocks gave a downside breakout, but immediately got support. The good part is NIFTY still holding 3300 mark. The bad part it makes life difficult for intraday players. Now any up move in mkts should be considered only above 3514. On the downside if NIFTY breaks 3300 mark, we can expect some panic.
Today also Nifty will remain volatile and one should try to book profit at regular intervals.For morning session Nifty spot above 3342 can show some recovery and if Nifty breaks 3300 level then we can see some more selling pressure in the market
Nice trading day!!!!!!

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