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| Discuss Mkts in New uptrend at the Technical Analysis within the Traderji.com - Discussion forum for Stocks Commodities & Forex; hello frds, i dont hv much TA knowledge, so want the expert's opinion on this, ... |
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#1
6th August 2008, 06:45 PM
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Mkts in New uptrend
hello frds,
i dont hv much TA knowledge, so want the expert's opinion on this, the indices seem to hv completed the downward cycle & r now looking all set to retrace the highs posted earlier this year. the reason i believe this is that, after the highs of 6300+ it posted in jan, 08, the nifty made a bottom of 3789in july. which is pretty much the same level it fell from in may, 06. a previos high, is now low. n since those levels we have seen near rebound of 800 pts (considering 2day's high), during this it has crossed some of the highs it previously made during this downward movement. is it indicative of upward move start? shed some light? 
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#2
6th August 2008, 06:54 PM
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Re: Mkts in New uptrend
mostly no one can reply with certainty, but be aware that bears markets can have dead cat bounces uptil 40% also & its not unusual... only certainty is that after making a top some where in this rally nifty falls & make a higher bottom than 3800, then will the true bull market resume... till then trade the trend patiently...
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| The Following User Says Thank You to Czar For This Useful Post: | ||
kapital solutions (11th August 2008) | ||
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