Sunday, January 30, 2011

Ready to Rock again in Feb 2011

I am bullish for pure technical reasons which can be explained in the following four points
  1. Nifty nearing 50 day EMA which coincidentally equals 61.8% of reattachment from 6338.50 recent high to 3918.75 which happen to be significant lower after new government formed
  2. Slow Stochastic has come down to oversold zone in weekly chart and is already moving since 10th Jan, 2011 in daily chart
  3. Nifty has touched base of the down channel which happen to lower of Bollinger Band (See next graph)
  4. And if you are even not convinced then have a look at my last graph, which is being wathed by world