24-10-2008 Views

Hi, I was busy and could not write my views in this blog. The bears are having gala time and now their position is becoming little unsecured. No one can say when the bulls will take upper hand? The world indices are showing that there is still time to think about the recovery. Nifty may go down to 2900 level and look up. If Nifty moves above 3000-3070 range some uptrend may be seen. Above 3070 nifty may travel to 3550 and above to 3774.Down side it may touch 2500 initially, then take support at 2450 and rebound. My gut feeling is the correction from 3070- 3550 level will take nifty to 2000 level where we can see some fast movements upwards. FOLLOW UP: In my last posting I had suggested to consider buying straddle. IF those invested would have got good profit. DISCLAIMER: THE READERS SHOULD TAKE DECISION AFTER FOLLOWING THEIR OWN ANALYSIS. THE AUTHOR CAN BE NOWAY HELD RESPONSIBLE FOR ANY LOSSES.