Thursday, December 2, 2010

Nifty & Bank Nifty Buy Triggered 2 Dec update

Nifty and Bank Nifty triggered a buy in the first hour of 1 dec trading.

The indices are now trading above or near the short term resistances at 6000 and 12500 respectively.
Since there has been a move of more than 2% there is short term overbot levels which can trigger the profit booking.
So one can book partial (50%) of profit booking here and let the other half run till we get the proper exit signs.

Attached are the charts.

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