Tuesday, November 11, 2008
SOUTHWARD BOUND
Well well nifty showed weakness from the opening only and started loosing steam , catching the bulls by surprise , slipped below 3085 and quickly moved towards 2990-3220 area , where it tried to hold but slipped to a low of 2919 intraday. We have to watch 2860-2860 for some support failing which we will go to the next levels of 2780-2670-2631 area quickly..Hope all had booked their longs & taken short trading positions ..lets see where this ends before any positions in long can be thought of, as the sell today was big..enjoy the day...cheers..
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2 comments:
taking reference of 21st january,2008 panic bottom and if we make a study of chart pattern before making new low a very last day market have moved 3 to 5% upside which is quite clear from seeing nifty spot chart...if the same pattern follow DEFENITELY market touch new low.....cross d finger
markets now are in strong hands, as the last fall of 1000 points removed all weak hands, they will not be in any hurry to go down and retest the lows..keep a open mind & trade both sides..why break your head to where we are headed..cheers
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