nifty bounced from long term trendline support it took many by surprize many terming this as a relief rally in bear gripped market.I will not go that deep into to debate about it, I would just repeat golden words what i said yesterday too."WHEN EVERYBODY STARTED MAKING MONEY SHORTING BOUNCE WAS NEAR" and it was proved by the massive thrust shown by nifty on friday so remember making money in markets is not easy it needs continuous study with trading in new ideas so keep learning.
cheers
rish
if you adjust your trendline a little and take the sept 2005 2300 low also in the line you would find that the trendline is cracked and nifty would now take resistance from this line as it tries to move up.
ReplyDeletealso down channels are intact and we may see fresh sliding.
too soon to say that downtrend is over.
hi thr i didnot comment about rebounding but yes expect unexpected did u ever felt tht the downmove ll be so fast vice versa can also be true
ReplyDeletecheers