our indices are at a very very crucial stage,a stage from which they can either break-up or brak down,it looks as simple as that,but its not,,,coz. the upside seems limited atleast for medium term,,since there are very steep resistances that indices left while sleeping down from jan-08,,but my worries for the down-side !! if in next two weeks indices cant stop going down..they will be surely either going to break the july-08 lows or atleast test those lows at 12500--3790 for sensex -nifty.and if the major supports at 11907-3600 by max. are not held..they will not only moove down faster but the time they will take to recover will be far more than a normal investor hopes.and my views of our markets just passing on time { 2-3 years may be} in a broader range will be in danger.ideally if indices starts mooving up on weekly closing basis from next week or two,than their will be fair chances of reaching them up-to even 17100--5300 range..if that happens than they will suely enter into a very broad range ,,A CORRECTION THAT WILL PASS-ON MORE TIME,,THAN A CORRECTION MORE SEVERE PRICE WISE..
Next week will be{ as per my gutsy feeling,} a decider week,in terms of clearity that weather this is a bear market rally only or its an upmove ,as a part of larger corrective rally..which will ultimately put indices in a higher orbit, after sideways corrective phase..august -08 is crucial as a month since its an eigth month {a fibonacci number} from the top.
