Nifty has broken its crucial level, Banknifty is still to break the same, CNXIT has fallen but there is still one thing missing - Momentum. In this situation keep strict SL and exit at SL.
Technical Views - Equities 25th May 2011
NIFTY
TREND : We are now short on Nifty below 5350 on a very small position, as the charts could not display confidence. We will add to our short positions if 5360 is not breached on the upper side. 5360 will also act as our stoploss for stop and reverse. It means that we will exit and create longs, if Nifty sustains above 5360.
SIGNAL : Use buy and sell signals of TDI - BS for the day.
BankNifty
TREND : For today take the buy calls again and shorts below 10350 only
SIGNAL : Use buy signals of TDI - BS for the day
CNXIT
TREND : Finally broken with a GAP. We made lesser money than anticipated. but will look to short it again on sell signals.
SIGNAL: Use sell signals to short.
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