Nifty was up 7.3% during the week after 4 weeks of consecutive loss taking cues from the global stock markets. Revival in foreign fund flows and bargain hunting at lower levels drove markets higher. It would be interesting to see how the next week pans out lets see how we are technically positioned for trade next week.
Dec 8 ECB will meet is widely expected to cut Intrest rates by 25 bps
Dec 9 outcome of European Summit will decide the further trend of Global Markets
We have trading Holiday on Tuesday so expect Monday to be a highly volatile day as Traders will book profits on Longs and cover losses on shorts as overnight positions should not be carried in such highly volatile times we have seen 2 gap up of 100+ points in last months.
One Important observation i would like to discuss is Government/Central bank bailouts can ....
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Rgds,
Bramesh
09985711341
http://www.brameshtechanalysis.com/
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