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.Today was a neutral day. The blue dotted supply line is still exerting its influence.
With some time based calculations, we are getting a cycle in time date around 17~18 August 07. It will be interesting to note what the Index does around that time frame. From the movement of today, it could possibly be weak for a couple of days, and then make a bottom for this correction around 17~18.
The possible zone where the Nifty could take support is around 4145~4178.
As far as the longer term perspective is concerned … technically the position remains as a suggestion to buy on dips. Investors could now look at about the 4145 level. Profit taking also may be done quickly, unless we are really long term investors.
Plan your trades and trade happy and enjoy the Independence day holiday.
3 comments:
Sirji, ur 4170 levels have been hit today. so shd higher qtties be bot or not !? is 200 MA imminent ?
LONG LONG TIME !! LOTS OF VOLATILITY BUT NO POSTS !! HOPE U R FEELING OK !
REG
KETAN
Respected Dusanji,
Your views on the market movements are eagerly awaited.
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