WOW!!!! WAT A RALLYYYYYYY.....It was the bad day for the Bears. Sensex rallied more than 1000 points in just 2 days. YOU CAN SAY FASTEST 1000 POINT GAIN. Nifty faced some resistance at 4100 levels closed at 4092. Since last one week i have been telling all the readers of this blog, that this is the right time to buy. Real Estate & Banking were the sector which was recommended to the traders. Major rally was there in these sector. It is still mentioned clearly that these sectors are purely a trading calls.
Nifty closed above the trendline (marked by the circle, in the chart). Nifty will again face resistance at 4215 levels. Till the time the close is not above the same for few days, the trend is still not clear. The lower bottom and lower lower top formation is still in the making. but according to me the trend wiill be broken. Inflation for the week was at 11.91%. It is moving northwards but a slower rate then in near past.
22nd July will be a busy day. This day will decide wheather the congress government will rule India or not. If the Congress loses, it will be the most unwelcome thing to happen in India. Remember when the Vajpayee Govt fell the last time, markets took this as a positive note and our markets rallied. Market will rally only if SINGH IS KING.
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