This is Sudarshan's blog - www.sudarshanonline.com. It discusses the technical analysis of Indian Stock Markets emphasising on online day trading and futures trading strategies.
Sir,Eagerly keep checking your views on your blog twice to thrice daily. It has been an interesting past few days, India has been shining compared to the globe, the reason for this is continuous net buys from the FIIs, June was very +ve, July started with -ve , but now the net buys have increased. This could lead us to assume that there should be more uptrend and less downtrend.One thing which I noticed is RSI at 60 is forming double top which could negate the upmove and history shows nifty has been striving to cross 5400 mark and failing. So if the globe goes down this time and FII does net sell we may fall and keep falling to catch up the globe. we should know the result very soon. Chances for downside seems more looking at deathtraps, lack of volumes etc.
Sir,I am a regular reader of your blog and closely follow your outlook on the market. I came across this article by Robert Prechter where based on Elliot Wave theory he predicts a huge down turn for the markets. Do you think such a scenario can be possible and if yes, do you feel Indian markets will be spared ?Article Link : http://www.nytimes.com/2010/07/04/your-money/04stra.html?pagewanted=1&_r=1 )
Sir, As said by "Hamilton Bolton"that imperfection was an achievable and and profitable goal, whereas perfection was an impossible objective and would be unprofitable anyway.Please give your comments.
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