Nsenifty went to all the way till 4778... almost at the key support level. But the way it fell with decent volume is worry point. Todays setup is not really good to get excited so please wait and watch next day or two before getting excited to start a long position. Volume is not lower as well that is a worry point here.
I would like to wait for a day to see the where does market heads. This certainly has been the support zone in past couple months. It will need a major negative sentiment in the market to break this level. My feeling is that we should see some positive movement from this level.
This is a level where I usually get excited about to get into trade....... but looking at the current world market i am waiting for the confirmation.
Reviewing past tips
Maruti had a lower closing today but i still consider there is a possible bounce waiting to happen in this stock. Tomorrow should be the key for this stock. Lets see where does it move tomorrow.
KFA we should see a major action happening in very near future... still worth buying at todays close with stop 23.11.
CIPLA--> looks like it is moving towards 300 level.
VDOCONINTL - good shorting candidate. Very bearish close today. Shorting entry price - 86 stop 89 cover price - 79
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