as referred in this link on 19/04/10 stop loss of 17488 was triggered and sell on rise was to be followed.
after breaking 17488 we made a bottom of 17277 on 19/04/10 and made lower top of 17827 on 26/04/10.
today we broke 17277 level. so as per 1-2-3 pattern short positions can be taken bcz we have seen
new low below 17277.
stop loss for the short positions shd be 17827 which was lower top made on 26/04/10.
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UPDATE AS ON 7.05.10 AT 9.45 A.M.
WE HAVE SEEN BOTTOM OF 16720 IN GAP DN OPENING TODAY. WE HAVE CORRECTED BY APPRX 7% FROM TOP OF 18048. WE R CLOSE TO 200DMA AT 16632.PART PROFIT BOOKING CAN BE DONE IN SHORT POSITIONS ADVISED SO WE CAN SELL AGAIN AT HIGHER LVL.
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UPDATE AS ON 11.5.10
AS PER EXPECTATION MARKET HAS GIVEN A GOOD BOUNCE TO SELL AGAIN AS ADVISED.
