[07.08.07] Market Forecast

The Dow syndrome worked perfectly with the india market today. Eventhough the market opened and fell sharply, it receovered in the late trade to minimise the losses for the day. The dow is now trading in green and we can see a relief rally tomorrow. If anybody is stuck badly in scrips, use this dead cat bounce as an oppurtunity to exit safely. I still advise all not to go long before the market closes above 4533. till then do intraday trade only

Tomorrow, market may open flat or positive with gap up of 30-40 points attached with high volatility and remain long only above 4340 with SL 4325 for a tgt of 4410-4454. If it remains below 4335 keep short with SL 4355 for tgt 4270-4245. Dont carry overnight positions till the nifty closes above 4533.. Till then,trade Intraday only....Mint Money..