As I write this, the American Markets are enjoying a decent rally, almost 2%. Indian markets are in an intermediate downtrend. Rallies should be short lived. The bigger gains should come from selling in these rallies. For day traders, it is possible to take trades on days when there may be the possibility of an upswing. The intermediate trend affects day traders, but less so.
The Nifty has seen four consecutive days with lower lows. The Index may now be ripe for an intra day rally. Any rally will face resistance at 2750.
When will the Nifty touch 2450 ? The answer is: Only the Market knows what it wants to do, and, when. The 2450 number does not emerge from any magical calculations. It is the arithmetic target of a trading range breakdown. Usually, trading range targets are met.
This is Sudarshan's blog - sudarshanonline.com. It discusses the technical analysis of Indian Stock Markets emphasising on online day trading and futures trading strategies.

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► October (28)
- Answers to comments oct31-11
- Process of Consolidation Likely
- Nifty Pattern Targets Reached
- Happy Diwali
- Stock Selection (based upon their historical volat...
- M&M Consolidation
- Niftnear ORB Trade
- A dip in an ongoing up trend
- TATA Motors Life Cycle
- Hindalco touches support
- Mystery of the missing trailing stop
- Nifty Live Oct 12-11
- Point and Figure Charts
- Aiming for a better trade
- Long term view of Nifty
- Zen stories for Traders
- Hero Motor Corp at its support level
- NR 7 in Nifty Weekly Chart
- trading with a gap open
- Silver Pushes against Resistance
- An unusual continuation pattern in the Nifty
- Sudden Rally
- Nifty at 4750
- There is a time to be old and a time to be bold
- Afternoon review
- Nifty - Long Term View
- Higher High - Higher Low pattern in CNX IT
- Bear market shows its strength
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▼ January (30)
- 2009: Welcome to February
- Before the Open
- Trading is Fun!
- Are large traders destroying the market ?
- One day rally ?
- Getting ready for tomorrow
- Difficult Times - Continued
- Difficult Times
- The Swing may be up
- Intermediate Trend continues down
- Missing in Action
- Nifty trades in a Narrow Range
- Wise After the Event
- Friday Markets, did you buy ?
- Examples & explaination
- This is an intermediate down trend
- Below 2800
- How I trade for a Living
- Going to Zimbabwe ?
- Forecast 2009 - Deflation and Recession
- SHould you trade in Satyam ?
- Placing Stops on Strong Stocks
- There are people who want your money
- It happens only in America
- Bullish at the Top
- Short Term Trading
- Did you Buy at 2975 ?
- Are the bulls coming ?
- Take it Easy
- The Bulls are returning!
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▼ January (30)

2 comments:
One of my friends told me that most of the companies hire people to maintain the share price, these share price operators work with brokers in Mumbai & Gujarat and maintain the share prices, if somebody has heard of this and if this is true there is big mafia in share trading who makes the money not the common man.
sir,
kindly comment on your targets of 1500 nifty and 1200 nifty.I would understand that bottoms are made when 50 weeks averages cut down 200 weeks averages(not scientific but an observation from the past charts0
also did you mean cover shorts when you commented about an intraday rally in this writeup.
regards
Sanjeev
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