Inflation as mentioned will be high. Presently it is at 6.68% from 5.92 last week. But why did not our markets react this time on such a great jump in the inflation numbers???? On 240308 I have mentioned about the perception of the human beings and people talking about 3500 in Nifty when it was trading at 4600. It is just that there were no buyers in the market, so our markets were over reacting. At 21000 Sensex, there were 90% bulls and at 16000 levels there were 90 % bears. That is the time when the markets turn around. And on the same day I have mentioned that the Nifty has a very good support at 4450 and it wont go below this levels, till the time any bad news follow in our market.
Nifty weekly close is at 4942 well above 4750, which was the last weeks close. After 10 weeks of harsh selling, Nifty for the first time closed above the previous weeks high. Nifty has made higher top and a higher bottom pattern in the weekly chart. In the daily chart, Nifty has made an inverted head and shoulder pattern.
Nifty weekly close is at 4942 well above 4750, which was the last weeks close. After 10 weeks of harsh selling, Nifty for the first time closed above the previous weeks high. Nifty has made higher top and a higher bottom pattern in the weekly chart. In the daily chart, Nifty has made an inverted head and shoulder pattern.
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