View on Nifty

Dear Investor,

Some facts  about present correction

• As of now we are not in a bear run...As you can see in the chart (pointer),nifty is trying to retrace to 50% of the rally which started from 2009 and lasted till 11-dec 11....Nifty rallied almost 4000 points from its low..So now it is trying to retrace and this should end some where around 4450..(if we put filter then maximum upto 4368....In my mind it should not go below that....
• Everyone has been talking about filling 2009 Gap..(circuit day)...I have attached nifty chart which clearly shows there is NO GAP.....Bulls managed to keep nifty opening in such a way that there is no Gap left..So there is no question of filling up this Gap....
• We should not be bullish until and unless the falling trend line is breached.....Falling trend line is given in the chart and we are still in a down trend..Until and unless that line is broken we should not be bullish....

There is always a fear near a bottom and i feel that is a case at present...Nifty can bounce back from here and can again go and touch 4450 but that should be the end of this correction...

Thanks and Regards 
 
Rohit Saxena

Phone No: 09899365905
Mail Id: simmi9sep@gmail.com

Losers say it is hard and impossible, but winners say it is hard but not impossible."