TRADING DAIRY FOR 26/05/2009

26/05/2009

• Intermediate trend
  
  The market remains in the intermediate uptrend which has been going on since the beginning of March. The levels below which the uptrend would end remain 11,600 for the Sensitive Index, 3,500 for the Nifty, and 4,100 for the Midcap Index. These are rounded down figures from which Monday’s breakout took place. They will be raised to the level at which the next minor decline bottoms out. Most global markets are in intermediate uptrends, but several had dropped close to their downtrend trigger levels. The Dow would fall into an intermediate downtrend if it breaches 8,150.
• Long-term trend
  
  The market’s long-term (i.e. major) trend is up, which is equivalent to saying that we are now in a bull market. The indices are now comfortably above their previous intermediate tops (the classic bull market signal) and also above their 200-day moving averages. A majority of the more heavily traded stocks are also in major uptrends, as well as above their 200-day moving averages.
• Trading & investing strategies
• 
  A buy-on-declines strategy always works best for longer-term portfolios. The market may remain in a persistent intermediate uptrend, but fresh investments should nevertheless be deferred until the next intermediate downtrend starts and runs for a week or more. Current long-term portfolios should be held on to, and the rally should not be used to exit from stocks.
• The Main Trend Is Up 
• Now We Will Have Bigger Range To Play From 3700 - 4000 - 4670

• LEVEL FOR THE DAY

• TECHNICAL OUTLOOK :
• Imp Support 4220, Imp Resistance 4255,
• Likely Trading Range 4200-4275,
• Trade on long Above 4230 and Vice versa
• Note :- Please don’t use this levels when gap up or gap down. Also either side band is breached shall show breakout in either direction, and close above / below the intra band shall continue with the same trend for next day and can continue for for BTST OR STBT.

·        DISCLAIMER :