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Market Outlook - Short Term

WILL NIFTY HIT 3600 & SENSEX TOUCH 12000 (631) 03-Jun-08 13:45

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Posted by: lovemeall26 on ( 03-Jun-08 13:45 )

Hello hindlevernet, At present I am not in town and am away in kolkata for some work. I will be back on thursday only and hence until then am not doing any trading. Meantime, Markets have cooled off substantially and most supports are being broken with so much ease. This is not a good sign and now our markets testing jan lows looks imminent. Wheather we bounce back from there or still sink down further is the million dollar question and remains to be seen. I have decided to start nibbling into stocks for long term from jan low levels in a SIP way. Right now , I do not have any positions in hand and hence am cushioned in this latest fall. Yes my nifty charts were showing 5000 as resistance and which never could be seen to. Remember it was a resistance and not a target given by me. The day we broke 5020 last week, I had given a post here itself which gave all the lower supports and which when broken, I also showed the next lower supports and now they are all coming true slowly and steadily. We are genuinely in a downtrend now and can expect further downside soon within this month, hence trading with utmost caution is the buzz word now. All the best. lovemeall26

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