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BOUNCEBACK

Nifty opened with a sharp gap  following strong positive global ,it went higher and faced profit booking which led the index to come off the highs, Friday closed green after gaining 57 points on the cards.With this bounce the nifty is expected to climb higher levels till 5250 ,from which it can reverse to start the new wave down.
         Nifty did bounce from the same level where it took a support in rally preceding this,it showed a cluster formation at these levels and resumed the up move.The same story is expected to be repeated.Ater reverting from the 5250 levels index might see levels of sub 5000 levels

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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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