Expect sharp tradeable move after breakout: Gujral
Published on Thu, Jan 25, 2007 at 09:48 | Source : Moneycontrol.com
Updated at Mon, Jan 29, 2007 at 10:07
Like this story, share it with millions of investors on M3
0
Like this story, share it with millions of investors on M3
Expect sharp tradeable move after breakout: Gujral
Technical analyst Ashwani Gujral says the Nifty is still in the range of 4060-4130. He does not expect the market to break out at this point with a number of trading holidays on the anvil. So he does not expect fresh commitments from institutional or retail investors.
Technical analyst Ashwani Gujral says the Nifty is still in the range of 4060-4130. He does not expect the market to break out at this point with a number of trading holidays on the anvil. So he does not expect fresh commitments from institutional or retail investors.
He anticipates a sharp tradeable move once the markets breakout from the current range. He futher states that February is a very small derivatives series period. Hence, it makes sense to sell some options premium since the implied volatility is pretty high.
He further adds, "I think the next couple of days trading, once this sort of artificial firmness of the closing is over, you will get a discernable trend starting out next week."
He anticipates a sharp tradeable move once the markets breakout from the current range. He futher states that February is a very small derivatives series period. Hence, it makes sense to sell some options premium since the implied volatility is pretty high. 
