it looks unlikely at this time that markets, nifty and spx will break the lows made recently.
in that case , a couple of weeks down the line , nifty should begin its upleg to 5600 levels at spx to 1200 .
except for scalps, it will not pay to trade positional the way charts are set up.so i will not be aggressive in taking a position.
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Vipul: Would it be possible for you to post your medium term count for nifty?
ReplyDeleteI think Rupee, Interest rates etc are all dependent on equity at this point of time..
Regards