Yes! this is quite possible now on the basis of technical charts, nifty is showing some reversal patterns and the good news is that MACD is showing a +ve divergence which could further support the upside on nifty and we see a technical bounce this week itself, but above 5050,the main hurdle will be to cross 5120, from where correction could be seen and we could see further lower levels.
That is a future view, but presently I see a technical bounce soon this week itself, which will take Nifty to 5050 level atleast.Reliance,Ongc,ICICIbank,sbi,DLF these stocks will rally the most,and not to mention the midcaps.
Nifty should maintain the higher level of 4800 to get this bounce,otherwise we could consider yesterday's rally as a short covering only.
I advise visitors/users of this blog to buy March 5200 call of Nifty which is currently around Rs32-33, my target is roughly 150 on it.
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2007
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September
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- DLF looking good for another upside!
- Expect market to touch 5000 by Friday!
- Expect Nifty to touch 4750-4820 levels today!
- Fed News will give the direction!
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- Nifty looking weak at highs,expect some surprises!...
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August
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- 4400 is a resistance for Nifty; Reliance is strong...
- I expect Nifty to touch 4500 today itself! Read mo...
- Expect a heavy correction today in Nifty!
- Market is poised for a good upside,Nifty can touch...
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- Expect Nifty support at 4000.
- How to trade in Forex from India?
- Expect a rebound in Indian markets on monday!
- Nifty below 4100, expect more weakness!
- How did the correction started? What is subprime l...
- Expect further correction in Indian markets
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September
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