HAS NIFTY TOPPED OUT?

Hi Friends,


While Most of the Analyst believe that India is back in Bull. We still believe that its not the Bull Market but just Bear Market Rally. But has this Rally Fizzled out?


Well the Corrective Advances all over the Globe seems over and the Major Equity Indices across the Globe including  CAC, DAX, FTSE, DJIA & SPX are ready Tumble from the Sky.


But its still difficult to say whether Nifty has already Topped out?  It is not easy to catch each & every top & bottom. So now 1 must be ready to act as Nifty unfolds.

NIFTY

1. As per our 1st alternate we were looking for 5385-5435 as the termination point for this Rally but as the case may be now it looks like failure of 'c' of B. So the 5th within 'c' of B might have truncated at 5333. Or there might be some up stream left till 5344..

NIFTY

2. As per our 2nd alternative the Rally might continue & cross previous top at 5630 to Trap the Bulls. In This case we would look at 5738 as the termination point for this rally.


But as the Global Counterpart Indices are looking vulnerable and ready to tumble from the Sky the 2nd alternative looks little difficult.


So now the key is to Ride the Train whichever way it takes Turn.. Above 5344 there is still some room for 5385-5435. But Below 5286 its straight decline to 5221 & below that Nifty might Slide to 5184-5148..


But the key for Direction of the Major Trend is in two alternative nos 5145-5435. Weekly closing above 5435 would indicate a New High on Nifty while Weekly closing below 5145 would be indication of New Low on Nifty.


So lets wait & watch..


Thanks & Regards,


Harsh Dixit.