Please see this post first - http://kolhapuritrader.blogspot.in/2012/04/alert.html
Now what next--- yesterdays rate cut by RBI improved sentiment and SHORT TERM trend which was down, turned up yesterday.
INTERMEDIATE TREND is still down. But today on hourly chart it gave breakout above 5306.75, so now if it gives daily close above 5306.75, INTERMEDIATE TREND will also turn up.
LONG TERM TREND is at present sideways to mildly bullish ( up ). If NIFTY gives weekly close above 5378.75 it will be firm indication of up trend. CAUTION --- AT the same time keep eye on 5135.95. If it gives weekly close below 5135.95 possibility of further downside to 4800 / 4530 are more.
So in short as of now Indian market is BUY ON DEEPS .
AS USUAL THIS IS OUR PERSONAL VIEW AND VISITORS SHOULD DO THERE OWN ANALYSIS BEFORE MAKING ANY DECISION.
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Blog is meant for sharing our trading and investment ideas only and no calls to be
taken as trading recommendation. Visitors please do your own
research or consult your advisers for safe trading, investing.
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