Tuesday, January 31, 2012

Nifty and Tuesday Factor

  1. Today is 5th consecutive Tuesday to close with huge gain
  2. Yesterday gap (5163 to 5204 has been filled today
  3. Nifty struggled at weekly pivot of 5148 before moving higher
  4. Oscillators have started showing sign of weakness and negative divergence
Ever since market topped out in November 2010 all bull months have been followed by at least 2 bear months. If this is actually a bull (which is unlikely) then second month should also close with white candle else...
Two weeks ago there was more bears and now there are more bulls. So this is time to scare not to be greedy or adventurer unnecessary. Wait for a firm close above 200 SMA and outcome of Greece bail out report

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