02 April 2012- Technical Update

Will the rise continue? Well, now a day indices are turning choppy during trading hours and those choppy moves run for as big aas 2-3 hours. This can misguide the trading direction or atleast can add high degree of frustration.

Technical levels to watch-

First was 38% from 5135 (starting from 5499) = 5274 - it has crossed and eventually turning stop loss of trading long direction.

Second level is - 5317- which is 50% retrechment. If seems that if Niftyable to sustain above 5317 then we can see further addition of 1% on higher side.

(Do I need to write it in bold letter to make you understand the importance?)

STRATEGY

*Watch out for resistance at 5317.

* You can opt to buy in initial dip for a move near 5317 but those gains will be limited.

* Be cautious at higher levels.

You can visit http://www.viecapital.com/ for daily and quicker updates.

Thanks and Regards,

Praveen Kumar