NSENIfty looks like just went through bloodbath. But if you look at
the weekly graph, we don't see heavy volume pushing it down to dirt.
That tells us that there are not much push to go down and big funds
are optimistic. If the funds are affraid, we should see heavy volume.
In recent weeks we have seen more positive weeks than negative weeks.
If funds don't participate in this selling really next week, we should
see 5060 level and if they do participate, we should see around 4300
level. Looking at last 3 weeks action, i believe its a time to touch
5060 but again we can only speculate and market has its own mind.
I am still not comfortable to take trade. But a single positive sign
and i will be in the market
the weekly graph, we don't see heavy volume pushing it down to dirt.
That tells us that there are not much push to go down and big funds
are optimistic. If the funds are affraid, we should see heavy volume.
In recent weeks we have seen more positive weeks than negative weeks.
If funds don't participate in this selling really next week, we should
see 5060 level and if they do participate, we should see around 4300
level. Looking at last 3 weeks action, i believe its a time to touch
5060 but again we can only speculate and market has its own mind.
I am still not comfortable to take trade. But a single positive sign
and i will be in the market
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