Well, a bad close to the week with the Nifty closing today at 4718. But for my blog readers - it was nothing new!! ... We were all expecting it since 5100!!!!
But the Nifty chart today, has created what is a rare gap pattern called 'Break Out' Gap. (for definition of this gap please refer to my book )
Now if Nifty does not try to fill this gap and it breaks the low of 4692, the break out gap will get confirmed and a further sell off cannot be ruled out.
Incidentally you may have observed the movement of HangSeng ... The rounding pattern analysed a few days back is nearing its target of 18500 nearabouts.!
The world markets are nervous and big players are using every opportunity to exit. Be careful before buying aggresively.
CA Rajiv D Khatlawala
ValueTrade Academy Pvt Ltd.
No comments:
Post a Comment