This is not a very good sign...gravity is a natural force,,markets cant defy that force...but sensex-nifty contnues their journey,,what could be the technical reason for such a dramatic turn-around of sentiments ?? especially towards BRIC countries ?
markets are defying the gravitational forces and relentlessly march upwards..clears 1 point of my arguments ,in my articles of july-08,oct-08 ..i said that the bearish sentiment is a bit too much..INDIA growth story is intact..so infact..markets are correcting that overly and unacceptable bearish sentiments.
once that job is done..our markets are going to enter,a long ,non tradable ,calm periods.
I am still awaiting my charts to signal that phase of very moderate activity on both sides.
It is entirely possible that from strong resistance areas of around 15600--16200..we may see a strong pullback...before the long dull phase.
16200 seems tobe quite a reasonable target above 15700,for sensex.
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