Rajandran R Follow Creator of OpenAlgo - OpenSource Algo Trading framework for Indian Traders. Building GenAI Applications. Telecom Engineer turned Full-time Derivative Trader. Mostly Trading Nifty, Banknifty, High Liquid Stock Derivatives. Trading the Markets Since 2006 onwards. Using Market Profile and Orderflow for more than a decade. Designed and published 100+ open source trading systems on various trading tools. Strongly believe that market understanding and robust trading frameworks are the key to the trading success. Building Algo Platforms, Writing about Markets, Trading System Design, Market Sentiment, Trading Softwares & Trading Nuances since 2007 onwards. Author of Marketcalls.in

Positve movement in Nifty may be shortlived

May 29, 2008 35 sec read

Nifty CMP : 4918

Yesterday market showed a strengh coming back to the market. Yen also bouced back from 103.20 to 104.70/dollar after strong housing data and Durable goods datafrom US.

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But this positve movement in nifty may be shortlived as Market is making lower tops and lower bottoms.As for the market sentiment prevailing now anywhere between 4990-5025 remains Nifty's maximum upside. Breakout above is a Clear bull Signal. Yen also currently facing resistance at 105.26 any break out above may initiate fresh FII Investment in emerging markets like India.

As Nifty is under Expiry and a weaker Inflation data may make the current Nifty sentiment weaker. Also nifty will follow the downtrend if Nifty is unable to break out above 5000 levels

Tata Steel, Divis Labaratories, Tata Motors stocks shows strength and remains a valuable pick now for medium term gains.

Regards,
Rajandran R
Author -Marketcalls