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NIFTY SHOW - MILD GAINS

Nifty opened in green with a shoot up of nearly 40-50 points,this was due to slight correction in dollar,The dollar in the day progressing retained back the high price.De to this markets were not able to hold the gains.Today's movement was like a sine wave traversing through a median line.Both the participants i.e. longs and shorts had an equal chances of making profits.
                                             Nifty today's bounced back from the 4850 price where it encountered a spree of buyers taking it back to the higher levels in intraday.The markets are distinctly  below all types of  vital moving averages.hence short term sentiments remains bearish ,there are possibilities of pullback rallies ,which could be successfully exploited to enter fresh positions,well it  can be stated undoubtedly that markets cannot keep falling in a straight line,hence short covering is imminent to lead the markets to new lows.
                              We have a vital thing in line o see whether this week closes above the trend-line on weekly charts if it does so ,we can take it as an indication of some relief,subject to sufficient evidence  in its testimony.The broad markets was somewhat mixed with 751 advances to 707 declines

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