Time to get back to updating the blog. There will be some changes, though. Owing to time constraints, I will only update the blog on a weekly basis. Should something interesting develop, I may do mid-week updates.
During the period I've been away, I've been looking seriously at alternative methods of analysing the market. You will see some of this in the charts posted here. So here goes.....
Despite all the bad news on the economic front, the markets seem have to just shrugged and carried on rising. The question of course is, how far can they rising? Looking at NIFTY, a rise to 5274 seems quite possible for now. However, I must add it is looking a bit tired already. As the green pitchfork shows, price seems to be hanging on to the lower line of the pitchfork for dear life. Should it fail to rise from that point, we could be looking at a good drop of about 200-300 points down to the lower line of the brown channel. Good luck with your trading!
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