Nifty for 23 Mar 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 market is behaving perfectly, giving respect to supports and resistances.

The short term, intermediate term and the long term trend is up. Dips may be utilised to buy. And it does seem that the market may oblige bulls who are still waiting on the sidelines.

On the daily chart, we see a shooting star candle, which normally precedes a correction. On the other hand, we may have seen a minor winding down of short term positions, due to the weekend.

Trade happy.