Saturday, May 28, 2011

Battle of the market - May 28 2011 bulletin

The fight for gaining ground between bulls and bears is getting intense. Last week one can say that bulls came home happy on Friday after 2 days of bounce back. As is evident from chart that Nifty is in a downtrend mode after the bulls lost the very important battle around 5900. The whole run up from 5400 to 5900 was knocked down. But again once the area around 5350 which has been a Fort for the bulls have not been captured. Now we are back again to the battlefield where both the parties will be equal. One can say that now bears have their own ammunition lined up around 5600 which they will definitely unleash when the opportunity comes. So as a spectator we need to watch this battle closely and when we see that their is an advantage on one side we will sell our arms to that side so that we can make money. Till then we need to sit on the sidelines and wait for our turn. "There is no point been a Bull or Bear in the market. The only thing one should become is a profitable trader. We traders are like Arms dealer who sells our products to the side which appears strong in the battle."

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