BEARS SPREAD THEIR WINGS

Market tanks spooked by German short-sale ban

Greece crisis likely to impact FII inflow: ING Vysya

Greece debt crisis could spur capital flows to India

Greece: EU may go to IMF, after all

FIIs sell shares worth Rs 1,589 cr

the hindu businessline 25th april 2010.

ABOVE WERE THE HEADLINES IN THE HINDU B LINE, yesterday evening.

i had clearly said on 8th april that a top has been made at 5399,,than on 17th april i said that the budget rally has ended,than many times after that, i had suggeste lower targets for nifty and also warned that their will be panic below 5146,,,yesterday their was MAXIMUM PANIC, WHEN nifty touched mt target of 4833.

and ,such bad news becomes headlines.this is what i always say, charts speaks first----news follows after that.

by nature, i am bullish. i do firmly believe in THE INDIA GROWTH STORY.BUT an analyst must learn to LISTEN ,what chart says.AS the saying goes, there always is bear market in a bull market. and there is always a bull market in a bear market.......what does this points to ???

it means that, even if a market is strongly bullish,,there will be corrective fall and vice versa.

my job is to find out, such corrections , so that they can be used as an ENTRY POINT, and also to find out, the possible start of a correction. so that traders can be stopped to buy and advised to wait, to find entry points.

THE problem here is, that there is a very little difference, in a normal correction and THE new move in the opposite direction.

if we discuss this , in perspective of our markets, i have been clearly warning of a big correction, from around 5350.and around 5210, i had given a clear target of 5132, 5022, and 4875. and than below 5146--5080 i had EXTENDED my target upto 4832. now untill this point ( with the use of a very good trading system, we have generated some very good successful buy calls too,that is a different point though)....the around 8% fall in nifty from 5399 to 4795..looks to be a CORRECTION,AS PER ANORMAL TECHNICAL ANALYSYS RULES.

but, it looks different this time.

THIS FALL can well be just the first leg of a larger bear market, which can last for a little longer.

but from within 50-100 nifty points we can again expect a bounce back,,which should be A LOWER TOP ON WEEKLY CHARTS.

I AM ATTACHING A FEW CHARTS OF SOME LEADING COMPANIES, which shows, that supports have been broken in many of leaders.

in a few days,, after looking at all charts, and looking at strength of the pull-back rally,,i will give you resistance lvels for major stocks and nifty.