As you can see in this weekly chart, the market is really not going anywhere and is currently sandwiched between the downward sloping trendline and the 40 week moving average corresponding to the 200 on the dailies. The bias is on the down side but the damn thing is not tanking, WTF!. I really want to see it go below 5100. In the mean time, the barometer is now at -14.
4 comments:
dear sunilji if nifty deep bellow 5100,is it buying oppportunty? weekly chart shows flag pattern might be bullish.
No, Nifty looks weak. Might go below 5150-5100.
as compared to the rise upto take 35 days and fall taken 45 days and yet taken 50% fall of rise,is suggest positiev in medium term after bottom near 5090.arvind is forming compression in bollinger band,ready to breakout.your expert opinion is required.i request you to start nifty option paid services as your nifty prediction are more then 95% correct.
Doc, this market is not looking good to me. Nothing will stop it from going below 5150-5100
I'm not always so much bearish but something is wrong. We are going to tank.
Thank you for your suggestion on Nifty Option paid service, let me think over it.
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