Monday, July 7, 2008

Dilli Ab Bhi Dur Hai - Nifty Future - Anil Desai

Delhi is still far away. When a tug-of-war is going on between our political parties, how can our market remain a silent spectator? This is evident from last five day's movement in the Nifty future. Looking at charts it seems that everyday a trap is laid, to trade in the opposite direction of the overall weak trend. I would still wait for a clear signal before I trade long - rather I would wait for a signal in any direction. This means Nifty future would have to 4065 on a closing basis, for longs, or trade below 3944 in the southern direction, to trade short. Until then, I would wait till the air is clear to breathe again.

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