IT's time to cheer up as markets are almost 3000 points up from the recent low of 14667 & last Friday made high of 17621 Sensex spot lvls. For Nifty the recent low was 4468 & on las Friday made high of 5298, almost 830 points up. The recent low was made on 18 March 2008 & just took one & half month for the come back.
So wht to do now ?????
BOOK PART PROFITS OR USE TRAIL STOP LOSSES
The markets are up by almost up by 20% in the recent short term run up from the bottom, at this levels we would like to advise our readers, visitors, clients etc to book profits @ current lvls or use trail stop losses to ur long positions.
As 20% index returns are not bad in such short span of time, this is for those who like to book profits but for those who like to stay in momemtum of markets can use Spot Nifty Trail stop loss @ 5100 closing lvls, b4 this trail stop loss was placed @ 4925 lvls.
Once spot Nifty closes below 5100 lvls then once can see short term profit booking or correction in the markets. We are saying to book profits as we liked to book profits @ regular intervals in markets, also we have technical reasons for that as pls refer chart posted here :-)
Still the momemtum us +ve in the markets & in this rally if we close abv 5350 lvls then markets can retest 5500 lvls & even abv tht.
Keep stock specific approach.
Last month April 2008 was full of result season & Many Indian Inc have come out with handsome results despite Crude @ all time highs & soaring inflations.
Techincal call updates :
On 29th Arpil 2008 we have our sms group members to buy HDIL @ 735 with sl 700 & tg 825 - 850, on 2nd May 2008 it has achieved its target of 850 & made highs of 860+ lvls.
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