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NIFTY SHOW

As expected nifty open gapped up on positive global cues ,however it faced a resistance  around 5434 levels and couldnt sustain the gains.On 7/02/2012 nifty took a support of the 200 DMA and closed in green.taking note of this bulls showed a tremendous  comeback as next day nifty opened gap and closed at the dayhigh levels.bullishness of nifty still remains intact,this week seems choppy since the budget is yet to spill the beans.Also MACD is trading above the zero line giving more weight to bulls.
                                                                                                   As long as there is no big negative event or news which will cause any bearish empowerment,nifty can be traded  long .The daily chart of nifty has also been presented

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DOJI

Nifty witnessed an absolutely sedate session,the bias looked positive but lacked momentum . The broader market was negative with 665 advances to 808 advances.The rally seemed to take a halt for a day before continuing further.i feel that the rally would take the markets to 5470-5500 before correction.since we are lacing fundamentally the longevity of this rally cannot be counted on.                                                                                                       On the hourly charts we are making higher highs and higher lows keeping the momentum intact,still as advocated a burst of 40-60 points on the nifty is still pending before correction ,i feel this might come tomorrow.Hence adding nothing more to i...
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