Marar's Musings....
Posted 9th April 2008 at 12:54 AM by karthikmarar
Back to the Musings after long time.... The last time I posted I was indeed talking about Divergence in the Nifty and possible correction. Of course I was not expecting anything as big as this one... thanks to the US of A.
Lot of things happened since my last post. The best thing that happened was the Kolkatta Meet. Congratulations to Asish and other Guys who put a great effort to make that happen. I dont think this sort of thing would have happened in any other forum in the world. Now I can put a face to many of the good friends this forums gave me. The surprise of the lot was my good friend Saint.
I think one of the question on everybody's mind is where will the markets will go from here....
A lot will depend on the company results, inflation and the US economy. The world is so globalized that it will be difficult for the Indian market to chart out a different course from the world markets even tough the economy is expected to do well. The Nifty seems to form a falling wedge. Wedges are one of the most difficult patterns to trade. Also there are many different opinions on wedges. In general a falling wedge can be a continuation or a reversal pattern. But a falling wedge after a long up trend is most likely to be Bullish. Also any breakout would have to with a good volume expansion. My knowledge on patterns is rather rudimentary. It would be nice if other chart experts like Ashish or Mohan add their comments
Lot of things happened since my last post. The best thing that happened was the Kolkatta Meet. Congratulations to Asish and other Guys who put a great effort to make that happen. I dont think this sort of thing would have happened in any other forum in the world. Now I can put a face to many of the good friends this forums gave me. The surprise of the lot was my good friend Saint.
I think one of the question on everybody's mind is where will the markets will go from here....
A lot will depend on the company results, inflation and the US economy. The world is so globalized that it will be difficult for the Indian market to chart out a different course from the world markets even tough the economy is expected to do well. The Nifty seems to form a falling wedge. Wedges are one of the most difficult patterns to trade. Also there are many different opinions on wedges. In general a falling wedge can be a continuation or a reversal pattern. But a falling wedge after a long up trend is most likely to be Bullish. Also any breakout would have to with a good volume expansion. My knowledge on patterns is rather rudimentary. It would be nice if other chart experts like Ashish or Mohan add their comments
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