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.
We had an exact hit on a minor predefined level. The Nifty reacted downwards from there. Therefore, in all probability, we may see a small downside move. Why small? Because of the fact, that normally when the market tests a predefined level, it tends to retest it.
If the retest fails, then we can expect some more downside. However, the amplitude of the correction has not been very large, so we could see a continuation of the up move from mid day tomorrow, and the Index may attempt a retest of today’s high.
Tomorrow would be a very interesting day in the scheme of things.
Plan and trade happy.
2 comments:
U r the best book i have read on stock mkts sirji !
Great "bang on" analysis, hehe
reg
ketan
I am only repeating what I have read earlier, and observed the market do.
Dusant
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