referring to mkt ahead...4thnov 2010 post,"there was also a falling wedge type pattern on nifty eod charts which was broken out from on monday. if correct then it has min lower tgt 6243 and min upper tgt of 6340, somewhere near the lifetime high. its a buy on dips for short term but the sl is quite deep from here".
both the tgts have been completed and nifty has since seen profit booking from 6340 lvl till upto 6050 on friday.
the pattern sl is about 5930, which if breaks can lead to further slide, but where some support may also exist in the near to short term.
