a breakout??

By god's grace, on jan 12 - I wrote an articale, wich was sent to even reuters, in which i clearly mentioned, " In my opinion our market is ripe for a deeper correction now then ever before, point wise it could well be around 3000 - 4000 points "..... What happend in last 3 months is now a history..." A city bank ceo had given a target of 25000 of sensex in first week of january...now he is revising it to 19000 for 2008...this tells everything....but iwrote another article on 13th march..i titled it BOTTOM..and i said " all in all in my opinion we are almost at the bottom.." i gave a cluster of supports around 14600 and 4480 in sensex and nifty respectively...i also said that dow has a strong reversal indication on weekly charts called positive divergance...on that day sensex was 15357 and nifty was 4623..dow had a low of 11750...after my article was written sensex made low of 14677 and nifty made a low of 4468 as on yesterday dow is almost 900 points up and with todays moove sensex would be 2000 points up and nifty almost 500 points....my subject technical analysis is called an ART in itself and the beuty of our art is in identifying turning points of major moooves...i think uptill now my art has worked perfectly admitting that precise points of reversal are known to the gods only who doesnot trade..!!!!!! but with we can be trading safely..for as long as markets run..in my opinion a close above 4971 and above 16500 around in nifty and sensex will pu our markets in medium term bullish mode ,,,with targets around 5158..and 17157 in near future..a close above 4971 will be followed by good news on fundamentals of the economy......enjoy..bjnaik. Thursday, April 17, 2008