Sunday, January 22, 2012

Indian Nifty bumping into the testing zone..

Have a look at the worst performing market amongst the developed and BRIC countries for 2011. The Indian Nifty. It has made a smart almost one way move up from the beginning of 2012 but it is almost running into a stiff resistance zone. Wait and watch how it does there before initiating any trades now. Most people believe that we have new lows to be made on this market, lets see if the market agrees. Jan 26th is the budget for India which a lot of people are watching with wide eyes. Any bad news will almost certainly mean we are heading south. Short if that happens. Don’t worry about long positions I think this puppy is not running away any time soon.. lots of resistance zones ahead. Support is way below at 4600 if we start losing steam. Watch for the short trade.

india nifty technical analysis

As always, lets see how it goes.

1 comment :

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