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What NIFTY SAYS this week and next?

Friday, November 26, 2010 | Labels: | |

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Nifty is trading in red zone continuously from last four session. Negative news on globe were main cause to set trend negative on fire. Nifty falls freely from the point of 6000 mark. If you are watched at Graph then you can understand that how fast Nifty fall. If you were on negative side then you are lucky person, else you know how much losses are now . Nifty is become too volatile. Movement of Nifty becomes higher on intraday, which cause anxiety in traders mind on both side of Nifty. You can check my article for this fall, so you can justify this fall to yourself.

As main trend become negative, it will become better to go with trend. There are some spike on today session to go Nifty in positive. There are some sign that are some buying with good volume. In last two session of Thursday and today (Friday) Nifty have been trying to come in positive side of buying. If you should watch some recovery on short term on Monday session, then don't be surprise.

On last session of week Nifty after opening on positive side on 5828.55, it is only add 10 point to make day's high5838.5 and low are 5690.35 ( almost 150 below from day high). Still closing on promises some what to bulls that it close on 5751.( Check my last article on Nifty prediction for 26 November 2010). Then you are understand why 5751 is closing of today.

In last two session bulls were trying to push their position, at least to make sustain in this negative time. If you are asking to me that really those negative news are hamper market, then my answer is NO. As per my view that News are created after happening moment. If you are only think for Indian stock market then just give some strain on your brain, then you can realize that this correction is must required to go ahead on New top. Indian stock market were come from 4000-6338, that is 2338 point rally in last bull rally. Then there is some need to correct, isn't it?.

Rally start first, then all News agencies were stitch this coincidence with current situation. This my view about the BAD NEWS. What you think about my view? Am I right? Tell me your view. Okay come to the point, In next week Nifty will try to stabilize, as effect of short covering. You are having very good memory then, scratch head and tell yourself that this correction rally already done correction of 550 point in Nifty. Is it enough to recover in first phase? Just wait! Don't go to conclusion!! This is little short covering remain in market. (You can ask me how? Then go to learn Elliot wave, watch figure of falling condition of Elliot wave(Wave A and Wave B. You can easily found Elliot wave pattern on the web. Just visit to Google!!. You should found proof !!). This will momentary relief in to trader. If you should go short on Monday, then my advice is that stop for while for to stand short position in present scenario. There is chance of little buying in market.

At last all are writing are purely my view. If you want to use this information in market for investing or trading purpose, then I like to advise you that use your own brain first. After all trading is serious and risky business.

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