Thursday, May 17, 2012

200 week SMA @4819 is good hope for bulls

Nifty is nearing 200 Weekly SMA and it is very likely, it will touch the same. I am anticipating sharp bounce from here as it was happened in 2009 summer.
I have noticed a trend Nifty has taken support at 500 Week SMA in great fall of 2008, then before moving sharp rally in March 2009 it was resting/testing 400 Week SMA. in 2012 Jan it was testing 300 WSMA before bounce.

This time 200 WSMA is withing reach. Can history repeat itself this time again??

Please remember every great fall has started with a great IPO, this time Facebook may prove same for investors.

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