Keeps up going up, doesn't it ?
The Nifty seems to have decided on a one way track - up. Just eight weeks ago, the Index made a panic low at 2200. Since then, much water has flown through the Ganga. At 3065, the Nifty is up 27% from its lowest close, and,a whopping 40% above the 2200 lows. That's an up trend. An up trend is bullish.
Is this the end of the bear market ? Frankly, I doubt it. But, while the market moves up, we have to go with the flow, which is up. The Nifty can go to 3200 (seems likely), and maybe all the way to 3700 or even 4000. If it can fall from 6350 to 2200, it can also go up! After all, the Market will always surprise us!
4 comments:
namaskar sudarshan ji,
now if the market can go up to 4000 then how come you and other analysts were again and again saying that market can test 2000 and then 1850.....
not just this you people were saying that below a particular level there can be a free fall. was it not creating a panic for an ordinary investor ?
now everyone is talking about 3900 and 4000 levels....
regards
rajiv malik
rajivhtc@gmail.com
@ Mr. Rajiv...
I think you should not blame experts. Its actually the markets which always tends to surprise you.. Yesterday, everybody was of the view that Nifty is going to consolidate around these levels. But that didnt happen. The bump up in the last hour of trade shocked everybody.. What that indicates..? It simply means that market is showing strength.. It is rather outprformng the other Asian markets.. But i still think that 3200-3250 will provide a hard resistance.. I had closed all my long positions.. Lets wait for few days and then take a call aftr clear indication of the markets.
I normally do not try to find a cause and effect to price movements. But this time, my guess is that the answer to this rally lies in the dollar depreciating against the euro. Now that the US Fed has done all that it could do, all positive triggers are over there. The Dow has only one way to go - DOWN. One thing is sure, bear markets end in revulsion. I dont think we have seen even the tip and also the time of revulsion.
Just one graph is sufficient to point out that the market has to go up
http://www.dealcurry.com/article.php?blog_id=5353
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