03-07-2008 Views

Hi, On 02-07-2008 NIFTY closed 196 points up. The recovery was V shaped and sharp. It is resting below 4100 at4093 which is low of June 25. The American and Europian indices are in red and at the time of this posting all important Asian indices are also in red(Indian time 8.15 A.M.). NIFTY has not bottomed out and it has resistance at 4140 level and if Nifty closes above this level convincingly it will touch 4300 level.Otherwise it will travel back to 3850 levels. 3800 put can be bought now and 4100 call can be bought when the market dips and the premium for 4100c is available at lower rates. While the author of this post is not responsible for the profit or loss incurred by the readers due to decisions taken based on this post he wishes every one a very prosperous day.