valuetrading

the technique used to determine bottom formation discussed yday was expected to complete and has 2-3 days of std deviation. But looks like US mkts are still falling and can have major impact on the downside going tomorrow. Here 4100 and 200 dma are vital supports, we are already trading below 100 dma. The target for Wolfe wave(discussed here earlier) and 200 dma are quite similar now and nifty can reach there in a single days fall. The subprime and its after effects alongwith yen unwinding is pulling liquidity from emerging markets.