Today i was confused about even in giving title to the article,since thers atleast a hundred clicks on my blog almost everyday,its becoming a sort of a compulsion and a habit to write something,,,but this is what i dont prefer much.especially at this juncture where ,even markets are getting fast into indecisive mode.
difficult to recommend even some good looking mid-caps..as fear of a deeper correction,looms large and heavy on my mind.
Good news about easing of recession the world-over,,,like usa un-employment data,,or australlian confidence data..have started to come in.since the markets have ALREADY discounted these good news,,it should be the time (logically),for the markets to correct.
but they are not,,there may be two reasons behind it
1)either some very good news..still awaits the market
2) this may be a starting point of DISTRIBUTION phase .
My language today may seem tobe like a two sided sword..but what can a chartist do ?..when markets arent opening all cards.at around 2900, i was 100% confident in calling a bottom...here i cant say whats going to happen.
anyways...for longs 4570 must be kept as the most important stoploss level.and one still can go long if nifty decisively breaks above 4700.
3 comments:
hm... wat for market is waiting to correct?
Think v r already in 13 week so is it waiting for 16 weeks that too coincide with BUDGET...
Anyway thanks for the indication littile bit BEAR
hi,so corrected or atleast started to correct from 15600,cooperation from readers like you ,is a big motivation for me..thnx a lot dear.
weekly macd +ve, closed above 5 week average, closed near 5 day average & ema, closed above 5 week ema ... lot of little little support,
what ur chart says?
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