Friday, June 17, 2011

Markets in slow downtrend

I am writing this on my way to Shimla for a brief holiday. The AC1 chair car is comfortable, but full. Recession or slowdown is not evident here. It is reflected in market mood, with the U.S. markets showing only the slightest signs of a relief rally.
For the Nifty, the view is clear. Since Nov 2010, Nifty has ben making a pattern of lower highs and lower lows.  That is bearish. That's not all.  The recent rally barely touched 5600, which ismuch lower than the previous high at 5950. The bearish move will be confirmed if and when the nifty goes below 5325.
It is always possible for sharp sudden ralies to come about.  Traders should take advantage of such moves.


Rushabh Shastri said...

:) thats good, sometime do visit JAMNAGAR-GUJARAT also, You may give me call on 9824411831 any time, will be happy to welcome you.

Jitender Yadav said...

Hello Sudarshan Sir
Happy journey
Its a good idea to take a leave from the markets as they are making us bored with the narrow range trading.
Is the market environment same as like the calm before a storm ?
Your Fan
Jitender Yadav
New Delhi

LJ said...

Hi, sudarshan sir,

am a regular reader of your blog, it has given me a lot of insights , am greatly thankful to you, it is very nice thing that an established trader/technical analyst like you give your ideas and view to others, may god bless you tremendously.

Lijo Joseph

Rohit Yadav said...

sir,this is rohit
i wanted to ask if it is the correct time for a longterm investment in ril say for 2-3 years.

Jaishrikrishna said...

As the levels have been breached today, does the bear market confirm itself, also on monthly bar charts there looks like a HNS break down, Kindly confirm with your valuable views and inputs, enjoy your stay in Shimla.

Warm Rgds,


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