18/03/2010 - Market cues & calls

uffff Finally the much awaited RBI meet is over. But nothing Big happened in the range . World markets took some breather after some relaxed mood seen over Japan nuclear tension. The way FII sold looks they hate the leaks happening with this Government. so we can expect this range this to break a way soon.. Fundamentally there is nothing to speak lets jump to technical.


Again High volume selling happened on Higher levels. Until the supply zone fade with new demand we can expect that selling to happen at higher levels. Bullish Hidden divergence Formed on Hourly charts. Can expect a bounce and this could be a trigger for a new demand for index in current range. 5580 a resistance on Hourly charts need to be crossed decisively. Any big trigger on upside positionally will occur only above last week High of 5612.

Happy trading !!!!!!!!

Jay