Friday, May 11, 2012

Golden ratio @ 4950 is the key. Trend is very much bearish

Market in all measures are in down trend until will be hit by a strong support to reverse. Down from all key averages. Opening and moving below the pivot at 4985 will further weaken today's position. However the indicators are in a verge of showing short term reversals. Going by the recent activity in the market, this reversal will also get sold off quickly. So another opportunity to sell in the bounce!

NIFTY:




OI:

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