"TRADING IDEA FOR WEDNESDAY (16.02.2011)"

The heady gains of past two days got moderated today as benchmark indices closed higher by just under half a percent after sharp intraday swings. At the close, the benchmark 30-share index, BSE Sensex added 71.60 points or 0.39% at 18,273.80 with 16 components registering rise. Meanwhile, the broad based NSE Nifty went up by 25 points or 0.46% at 5,481 with 30 components posting rise.
FOR TODAY: EU markets closed mixed. US markets closed in red. But all Asian markets are trading positive. SGX Nifty is trading around 5481, 5 points up. Nifty may open around 5480 and again try to cross the area 5490-5500. Above 5500, it may hit 5550-5560. If not able to cross 5500 area with volume, and trading below 5480 may drag again 5424-5400 level.
TRADE SAFE AND ALWAYS WITH STOPLOSS.
NOTE: I MAY NOT BE AVAILABLE TODAY.
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