Tuesday, February 28, 2012

EOD Analysis For 28th February 2012 and Outlook For 29th February 2012

Positive start to the day aided by positive global cues and OI in Nifty futures in the morning session @ 26.2 odd million and 1 million added after Europe open. VIX cooled down and stayed around 26 which is a respite for bulls. There is liquidity and a lot of optimism in the markets right now.

Critical levels and outlook remain unchanged; tomorrow's close will be crucial as it marks the monthly close candle. Also the critical band of 5177-5196 are expected to hold out tomorrow in case of a sharp profit booking session; whether it holds out on Thursday will be interesting to observe as it has the potential to set the floor for both bulls and bears for another 2 weeks [following 2-3-5-8-13-21-34-55 sequence] Today is the 33rd consecutive close above 5177-5196 band.

I am very lazy to draw charts and then paste them unlike my seniors and comrades [typing comes more easily to me!] For a change, an illustration from my end [the box comments are self explanatory]

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