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 explained yesterday, we continue to label the intermediate trend to be down.
For the short term trend to reverse, the levels for the Nifty are a breakout on the upside of 4164 and not violating 4100 on the downside.
For the intermediate term trend to reverse to up, we need a breakout on the upside of 4206, and the Nifty should not cross 4100 on the downside.
Continue to wait for a confirmation of the end of the short term downtrend, and then readers could buy.
I still maintain that within a day or two we may see a short term reversal. Whether it is strong enough to change the intermediate trend remains to be seen.
Plan your trades and trade happy.
2 comments:
testing times indeed ??
reg
ketan
Sirji, very quiet these days ??!! doesnt matter where mkt is going - if ur analysis is not read, days dont go by that swiftly !!
reg
ketan
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