Nifty - Ooops ...is it Deja Vu ????

The Nifty moved as expected and achieved the target of 4270. Since the crucial support of 4316 was broken , selling aggravated in mainline counters as expected.

The Nifty's recent run up from 3800 to 4600 and it's subsequent fall seems like we have already seens something like this before - not long before !!. It is clear deja vu.



The above chart indicates the movement for the Nifty along with the 'long term' MACD indicator (chart updated as of Wed Aug 20).

The next target for the Nifty in it's fall is 4225 and then at 4165. Upmoves will have resistance at 4325 and then 4370.

Will the Nifty movement be similar to what we saw June and July ? Till will surely tell . Till that time the only alternative for us is to become 'Traders' rather than 'Investors'

Happy trading

CA Rajiv D Khatlawala