Budget hope ??

FIRST the biggy...if one has a look at daily charts of reliance ,today,,it hasnt done any thing great.,,but looking at hourly charts,,one feels that something maybe cooking up.importantly,

it had reached our targeted price 1928 yesterday and than completed a PIERCING LINE candle

reversal pattern.on hourly charts ,it MAY be forming an inverted head & shoulder pattern.IF IF IF IF...COMPLETED(completes when breaks the neckline with volume onthe upside),it can be a big positive for the markets

NIFTY :4193,, was held back fast..and not broken today,,making a small little HIGHER TOP--HIGHER BOTTOM,on intraday charts.although i still feel that 4350-4370 zone will be very much crucial resistance for the markets,,to confirm that THE CORRECTION may have ended at4146 yesterday.so this is an effort to be a step ahead to find out if something is happening that can lead to a bigger pre-budget rally.

On weekly charts,there were downward reversal candles in most of the pivotals..if at all as on friday markets closes around even our resistance zones of 4350....we will be able to presume that the bearish ness of weekly patterns may have been consumed.

I have seen that..slow recovery such as we are seeing currently can suddenly pick up momentum,after the major hurdles are crossed and held.

ACC : It seems with todays rise ,that even acc ,hourly charts,,an inverted h&s pattern developing.

So, all in all ,,we can say only one thing that our markets are at cross-roads..we have to wait how nifty behaves around 4350-4370 and sensex at around 14650..+++ how they give the weekly close.