Nifty update 27-01-2010

Nifty below 4950 appears to be mid term bearish. If Nifty stay above 5012 after opening then its first target will be 5035. After hitting If it stays above 5022 then it may hit 5060.

If Nifty stay below 5003 after opening then its first target will be 4980. After hitting 4980 if Nifty unable to stay above 4993 then it may hit 4955.

I think Traders will try to cover their shorts if nifty unable to break 5000.

Second half is mostly governed by European markets. Therefore please keep watch on European market.

Long Side : Pantaloon Retail, Union Bank, Bank Of India,Yes Bank, IVRCL Infra
Short Side : Bank Of Baroda, Indian Hotels Company, Hindustan Zinc, Mphasis
Rules :
Buy above last day closing price with stop loss last day closing price for long side.
Short below last day closing price with stop loss last day closing price for short side.

Please tell me your trading performance if you trade as per this blog.

Best of luck.