iCharts Discussions

Just Trade · Brown Belt Joined: 15 Nov 2007 Posts: 2388

CROSSROAD AHEAD

The last week has been a good week and Nifty future has passed one crucial level of 4194. After six months of downtrend have we seen the bottom? A lot of people are of the opinion that we are going to see new lows very soon. Personally I see a change in the trend as the monthly charts are showing signs of coming out of the oversold position. August is going to be a critical month for NIFTY as it is at a CROSSROAD deciding which path to take. Finally have the BULLS arrived and will they take us above 4463 to 4628 and 5599. Or will the BEARS take it back to 4194. If BULLS allow this level to be broken then we will see 3499. If you ask me for direction, I do not have the wisdom to predict the market BUT yes I do have levels to watch out for and I will be watching 4463 and 4194 very closely.

Happy Trading

mgowthamjain · White Belt Joined: 17 Mar 2007 Posts: 147

hello all for all longs 4250 is Sl and for all shorts 4550 is sl

cheersssssssssss!

Very Happy

its_vishal_again · White Belt Joined: 30 Apr 2008 Posts: 2

The infalation figures on 15th stood at 12.44% if friday would have been a trading day we could have seen nifty losing at least 40-50 points(or may be more) but now as US markts are doing well and comoditites crashing we may just see a Gap up opening on Monday.

What do u say fellow traders any views....