India, Keep Rising !!

12 August 2011

Decisive downside major breakout by market 05-Aug-2011

With respect to previous blog on market in mid Jan-11 market did slide. It has taken a support at 17463 closing basis (or 17295 intraday low) in the month of Feb-11. It has moved up to 19800 in Apr-11.

Trouble begin in earlier May-11 . Market has reacted almost 100% from feb-apr-11 rally. Technically this was not a good sign.


Lots of dullness was seen in market subsequently. Market has given clear downside breakout in early Aug-11

Market will likely have a notable fall in coming time. With the reverse stop loss at 18000, probable next support range for sensex 14500-13000 & nifty 4400-4000

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