Nifty for 26 Oct 06

These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.
As was suggested in my last post, the long holiday had taken its toll in shaking out some highly leveraged Bulls.
With the derivatives expiry, the market has been volatile, but the intermediate trend is still up. The volatility could now reduce.
The Nifty seems still on course to make a new historical high. With a higher top, higher bottom pattern in place in the extreme short term.
Use dips to go long? I have been suggesting this for a long time.

Nifty for Diwali

Hello Readers,

First of all, on the occasion of Diwali, here is wishing you all a very happy and properous new year to come.

With two holidays coming up, it is obvious that no serious trading commitments are being made.

The real technical position will clarify only when this roadblock is passed.

I have been mentioning all along that Diwali was going to be bright, and indeed, it has turned out so.

I hope you have taken advantage of it.