Friday, April 07, 2006

Resistance at upper channel of small swing+T3 of large swing 3556



Allrighty last post it was mentioned that even though we have divergence. the remote bullish possibility of 3556 should not be discarded. index faced resistance near 3080 as expected but bulls contained the damage to 3034. subsequently we have rallied at a ridiculous pace.
Currently we are getting resistance at upper channel of small swing + t3 of larger swing
next target is 3786
supports are 3430/3382/3311/3254
exactly where will the correction end?? only God knows

Position Traders can use the trailing buy stop technique to enter (last day's high is the entry trigger)
Intraday traders can try playing off of the floor levels.