My First Contrarian Trade
For the first time, i want to take a contrarian trade for tomorrow. Amidst all the falling markets in Europe and USA, and most probably we might see whole asia falling, but i would like to take a contrarian call for BUY NIFTY, for March 6th, 2009.
Technicals suggest a short covering rally, and the leader is SMR. Today it was near its resistance @40-41 lvl during the March 5th trade, it came back and got settled at 34 lvl.
Dont take any trade on my contrarian words for tomorrow, but if u want to take risk then you might earn throught that.
Long term trend is down and will prove it within this month
Happy Trading
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