Hi,
Until RBI's policy announcements most people were bullish.Suddenly everybody is finding all kind of down tgts in their charts.What we are finding now ( with input of only 1 day's data of Friday ),all kind & type of information in the chart,which r now revealed to our TRAINED eye (after friday's data !!)that Nifty has made a U turn & absolute trend reversal.WOW !what Gr8 TAnalysts we are !
I am a bloke that i cant find ,(see the time of this posting then u will understand ,for how many Hrs i am trying sincerely) to locate that superlative weakness in my spot Nifty charts.In one of my thread Friday pre-mkt Nifty Fut "watch out" level was expressed due to a weakness in the chart.I cant find a massive breakdown type weakness other than what i have seen on Thursday night.Hence i am not going to jump my guns ,rather wait until my charts say so.A 50-70 points fall is a correction,not a reversal.A definite Bottom has formed,when i can't deny that ,then what prompts me to liquidate ? until chartically a definite confirmation comes i am game to Buy in dips at my comfort levels.So let CNBC Analyst's do there job & i will do my job.
Cheers.
Asish