Wednesday, May 4, 2011

May 04, 2011, Nifty

The Nifty fell sharply and made a lower high and a lower low. We will stay short and look to move our stop loss down.
Trading Strategy: Stay short with a stop loss at 5944.
Supports: 5816-36, 5348, 5243, 4980
Resistances: 5944, 6171, 6357

2 comments:

VK said...

Macha.. want to decide on fund composition on a ULIP i had invested.. it was 100% on balanced fund and is just about green.. given the state of the market was thinking of splitting into equity, debt and liquid funds with weights decided by me.. any pointers?

Nifty technicals said...

@VK
Yeah, for ULIP go for debt funds, will do well in rising interest rate environment. You can do 50-50 equity and debt for the next year should do good.