Pre Closing Trading Strategies – Day 4 – August 21-24, 2012 – All that upswing and no jazz!

Day 4 because Day 1 August 20 was indeed a holiday. Market could finally find the negligent trades of the bulls bountiful enough for a hit on Thursday 2:20 pm as they hit the indices to below 5400 for seconds and now a 5400 holidng is stilla warning for those looking for a substantial uptick to close on Thursday , the 30th, Expiry day.

BankNifty broke faster for the upswing in ICICIBANK and the others was a spike in itself in the morning and no buyers were around, prompting the big fall. Ofcourse the market could indeed stabilise over 5400 for the remaining four sessions and exiting any solfd puts would be intemperate unless the market can hold below 5390-5395 after a swipe below 5400. if they indeed continue above 5400 now that chance could come early on Monday or this could even happen before the week ends tomorrow. 

AS of now, stay invested. The Rupee has not responded to the move either and neither is the market looking like it has seen any liquidation of 5400+ positions for the expiry

 

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