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Moneycontrol.com >> Message Board >> View Messages >> Market Analysis - Technical View
   You are here :     Moneycontrol     MMB    Market View      Market Analysis - Technical View                         Most active discussions of 2006 , 2007 & 2008
July 2008 Nifty to end at mostly 3750... (1)   07-Jul-08 22:24Tracked by (0)  
Posted by:   truecharts on ( 07-Jul-08 22:24 )
The Bear market has been confirmed. And the reason for the ensuing Bear market unfortunately is the strength that the market found by mid March 2008. Had we seen a greater damage by March 2008 to Nifty 3750 by April 2008 begining we would have had a rally resuming which would have gauranteed atleast the previous highs. But the rally that ensued from mid March 2008 to begining May 2008 by 750 Nifty points have altered the market structure for the present.

And we see here importantly that from there the bounces were outnumbered by falls both by value and by time.

The structure clearly indicates a closing of the Nifty this July 2008by sub 3800 and approximately to 3750 levels. Therefore only any rise above 4250 and subsequent holding of 4250 only can alter the bearishness or else sell on rallies is going to be the best strategy.

Truecharts

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