Scribd Logo
Upload

Welcome to Scribd!

  • 7 views

    Daily Report: May 04 2011

    Uploaded by

    Abhishek Prashant Pandey
    The daily report from May 4, 2011 discusses the Nifty trading at lower support levels which may act as resistance. It notes that the RBI increased repo and reverse repo rates the previous day while leaving the CRR unchanged. The author advises covering short positions in Nifty around 5900 levels and avoiding new positions as the market is expected to consolidate around current lower support lines.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content

    You might also like

    Daily Report: May 04 2011

    Uploaded by

    Abhishek Prashant Pandey
    7 views2 pages
    The daily report from May 4, 2011 discusses the Nifty trading at lower support levels which may act as resistance. It notes that the RBI increased repo and reverse repo rates the previous day while leaving the CRR unchanged. The author advises covering short positions in Nifty around 5900 levels and avoiding new positions as the market is expected to consolidate around current lower support lines.

    Original Description:

    Y Bhardwaj, Nifty, Analysis,

    Copyright

    © Attribution Non-Commercial (BY-NC)

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    The daily report from May 4, 2011 discusses the Nifty trading at lower support levels which may act as resistance. It notes that the RBI increased repo and reverse repo rates the previous day while leaving the CRR unchanged. The author advises covering short positions in Nifty around 5900 levels and avoiding new positions as the market is expected to consolidate around current lower support lines.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    7 views2 pages

    Daily Report: May 04 2011

    Uploaded by

    Abhishek Prashant Pandey
    The daily report from May 4, 2011 discusses the Nifty trading at lower support levels which may act as resistance. It notes that the RBI increased repo and reverse repo rates the previous day while leaving the CRR unchanged. The author advises covering short positions in Nifty around 5900 levels and avoiding new positions as the market is expected to consolidate around current lower support lines.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as pdf or txt
    of 2

    Author: Y.

    Bhardwaj

    Date: May 4, 2011

    Daily Report: May 4 2011

    Explanation as per graph Nifty is on the lower line, which should work as a resistance for some time

    Things/Events to watch Yesterday RBI has announced its policy. Details: Both repo and reverse repo rates were increased by 50 basis points. CRR left unchanged.

    Note: The above analysis is basically done for NIFTY traders.


    Page 1

    Author: Y. Bhardwaj Gen Market description Market has moved as per the policy.

    Date: May 4, 2011

    My Opinion /Advice Cover short positions initiated in Nifty at around 5900 levels. I think Nifty should consolidate around the lower line. Avoid making any position in nifty now.

    Note: The above analysis is basically done for NIFTY traders.


    Page 2

    You might also like