STILL RISING.

Markets carried on from where they left yesterday despite volatality during the day( it stopped just below the level in the chart i posted.)..distribution/ profit taking was noticed and , reactions to this up move can come w/o notice..This rally is now close to 600 points and 2 weeks.. will look at techs over the weekend..enjoy the day ..cheers..

RETRACEMENT CHART

The above chart I am posting for all is self explanatory on the path the nifty took from 2539 lows till yesterday....Astounding it looks when u reflect back..but if you read the link i am providing of my blog from 6 march, it was clear that if markets do not break oct 27th 2008 lows, we have a BEAR MARKET rally on hands..
Coming to Today.. we are overbought surely and will advise all not to jump at these or higher levels but to let it cool off and then see from there..Funds may be looking to see better NAV to project for March end...enjoy the day..cheers..

http://niftyspotter.blogspot.com/2009_03_06_archive.html