Daily nifty chart is showing that gap is there..this gap will give trouble for bulls...for up move this gap to be filled as soon as possible..and coming out of falling channel is required..
As long as 4800 on Nifty is intact, I feel that we are safe--in fact this could be temporary bottom at the moment.
Moreover, with QE3 coming in the US, I do not think we are headed lower in the coming days. Today the government said that downgrading of the US sovereign rating is unlikely to have a significant impact on India's exports and the global economy.
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As long as 4800 on Nifty is intact, I feel that we are safe--in fact this could be temporary bottom at the moment.
ReplyDeleteMoreover, with QE3 coming in the US, I do not think we are headed lower in the coming days. Today the government said that downgrading of the US sovereign rating is unlikely to have a significant impact on India's exports and the global economy.