I am putting this chart for all friends visiting here so as they get a clear picture of path taken by the market so far & ahead.This market was moving in the range of 3147-2539 from Jan. to March.The retracement of this range carries us back to 3147 and above that it can go to 3522 which is 1.618% retracement.Markets are in a trending mode , and smart money moved in to take the market up/beyond 3147 aggresively with a gap up.The rally will be 21 days old today. We are in the reaction zones again as we climb up. Care should be taken for investments here preferably wait for a good dip.., but for technical & smart traders ample swing trading opportunities are available for trades both ways. Hope the post helps all for some cues on the resistances and direction..enjoy the day & the long weekend..cheers. Thursday, April 9, 2009
THE RETRACEMENT PATH OF OUR MARKET
I am putting this chart for all friends visiting here so as they get a clear picture of path taken by the market so far & ahead.This market was moving in the range of 3147-2539 from Jan. to March.The retracement of this range carries us back to 3147 and above that it can go to 3522 which is 1.618% retracement.Markets are in a trending mode , and smart money moved in to take the market up/beyond 3147 aggresively with a gap up.The rally will be 21 days old today. We are in the reaction zones again as we climb up. Care should be taken for investments here preferably wait for a good dip.., but for technical & smart traders ample swing trading opportunities are available for trades both ways. Hope the post helps all for some cues on the resistances and direction..enjoy the day & the long weekend..cheers. 
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