Hi friends,
Though I do not like our markets falling but I am happy about my research and analysis which are proved right which can be viewed from earlier posts. The upmove started from last week of May 2010 has been completely retraced yesterday. Also the upmove started from March 2009 has been retraced by almost 50% which suggests that market has further downside. It may not continuously keep falling like last 8 days but gradually it will go down and touch recent bottoms. Global cues and our market specific cues are negative. Rupee touching new lows are the factors contributing the fall. We have to wait and watch the market moves now. We have to take view at sensex 15600 or so that whether it falls further or giving upmove taking support at this level.
More later,
With best regards,
Jagruti.
Though I do not like our markets falling but I am happy about my research and analysis which are proved right which can be viewed from earlier posts. The upmove started from last week of May 2010 has been completely retraced yesterday. Also the upmove started from March 2009 has been retraced by almost 50% which suggests that market has further downside. It may not continuously keep falling like last 8 days but gradually it will go down and touch recent bottoms. Global cues and our market specific cues are negative. Rupee touching new lows are the factors contributing the fall. We have to wait and watch the market moves now. We have to take view at sensex 15600 or so that whether it falls further or giving upmove taking support at this level.
More later,
With best regards,
Jagruti.
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