Tuesday, April 13, 2010
The market on 8th April did not open within any of the suggested forecasts and in fact the market open relatively higher than the forecast.
So where is the market heading to today?
In long and short run, the market is currently bearish, so the forecast for today;
1) If the market opens between 2544 to 2551. Buy after the market has moved up passing the levels between 2556 to 2560.
2) If the market opens between 2522 to 2529. Sell after the market has retraced passing down the levels between 2512 to 2517.
3) If the market opens between 2530 to 2543. Sell after the market has moved 5 to 10 points above the opening level. Make sure this 5 to 10 poins do not exceed 2550.
4) If the market opens between 2505 to 2517. Sell after the market has moved up a bit and then falls 5 points below the opening level. If the market manages to beat down the levels below 2475, the market may fall further.
5) If the market opens besides the above, it is your call.
6) Also refer to my postings dated 11th January, see #6
Have a nice trading day, guys.....
9.14am - a little bit of updating