Nifty for 07 Sep 07

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.

The short term objective of the Nifty has indeed been achieved today. As per our time and price projection, it is just two days late.

It does seem that the mild weakness witnessed during the intraday session on Friday could continue for a few days next week.

The opportunity that bulls were waiting for seems to be coming. With some patience, we could start accumulating from a few days hence. If however, we do lose our patience and do buy at this stage, then it is suggested to keep a stop for a close below 4440.

The main trend is still up, and trades could be placed in the direction of the main trend.

Plan your trades and trade happy.