dear readers,
welcome to the new year 2012 !!! I am posting this after a long long time. Since we were/are still in bear mkt therefore very few postings were made as blog largely put views for positional and long term investors that are on buy side. iam sorry for the inconvenience caused to devoted blog followers,well-wishers and friends because of the delay.
posting an old nifty chart of mine updated for recent moves. nifty has reached the weekly downtrend channel upper trendline again after respecting the 4700 lvl largely falling slightly below it for a brief period of time and bouncing on RBI governor's hint at peaking of interest rates and followed by crr cut more recently. a reaction at this point at upper end would be a natural profit booking of the glorious 10% rally on nifty. even though nifty remained in longer term downtrend, stocks were earlier mercilessly beaten down which in last month's rally have seen good buying by FII's and others and as such are looking good for a long term investment buy. however one should wait for the mkt to turn to long term bullishness too, else it would be just a trading kind of move.
near and short term resistance as seen from above chart is 5200 spot. short term support is near/above 5000.
(to be updated)
welcome to the new year 2012 !!! I am posting this after a long long time. Since we were/are still in bear mkt therefore very few postings were made as blog largely put views for positional and long term investors that are on buy side. iam sorry for the inconvenience caused to devoted blog followers,well-wishers and friends because of the delay.
posting an old nifty chart of mine updated for recent moves. nifty has reached the weekly downtrend channel upper trendline again after respecting the 4700 lvl largely falling slightly below it for a brief period of time and bouncing on RBI governor's hint at peaking of interest rates and followed by crr cut more recently. a reaction at this point at upper end would be a natural profit booking of the glorious 10% rally on nifty. even though nifty remained in longer term downtrend, stocks were earlier mercilessly beaten down which in last month's rally have seen good buying by FII's and others and as such are looking good for a long term investment buy. however one should wait for the mkt to turn to long term bullishness too, else it would be just a trading kind of move.
near and short term resistance as seen from above chart is 5200 spot. short term support is near/above 5000.
(to be updated)
