Friday, May 25, 2012

A view on the Nifty

The Index may have made a short term low at 4788. A rally from this low is not an immediate requirement.

Index may chop around for some days or even weeks, although I would expect a test of the 5050 resistance levels before long, and, chopping around after this test.

IF the low holds at 4788, then the Nifty may be setting up for a decent pre-diwali rally.




2 comments:

sanraj said...

Dear Sudarshan sir, I am a regular viewer of your your appearance on cnbc everyday in the morning and I listen to your advices eagerly . I have always seen that you are the most 'trustworthy' and 'caring' person /analyst in the market as of today. I have seen that your recos are right on target and that you are passing all these free ideas out your goodwill towards the retailer traders, who otherwise are like lost souls in the stock market losing their money every day. By following your advices one can easily be profitable and make wise trading decisions. I express my sincere thanks and gratitude on behalf all those unknown traders who would have benefited from your advice.

More than anything else, the human touch in your voice is heartening and soothing than anything else.

I assume that even this blog of yours you have started for the benefit of numerous retail traders. Your words of wisdom and your selflessness in sharing it to others make you unique among the trading community . Thank you very much sir.

With Warm Regards
SanjeerK

Vasant kumar said...

Hi sir, this may have partly answered my question below, but my major doubt is "why shouldnt we assume a bullish flag pattern from 17/2 2012 to o2/05/2012, rather than a higher lows and descent down move ahead and testing 4800 levels happening now.


"Hi Sir, then why shouldnt we go short at NF 4823 which was first one hour low and broke in the next hour. why new highs/not new lows?