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Thursday, June 9, 2011

Nifty Rise

There are a couple of reasons for which i feel that the correction in Nifty is over and we may rally from tomorrow. itself. Or atleast from Monday onwards. First a look at the VIX.

A DOJI formed today in the VIX chart signalling that we may see a down move .Also the technicals are overbought. We may slide down here to touch the lower Bolliner band line  heralding the next NIFTY rally.

Next chart is of the Nifty itself.  Again a the fall in RSI has halted. The CCI(8)  is also touching  OVERSOLD
line. Again the N v/s N rule I learnt in COBRAS blog. The uptrend was for 5 days. This correction is 6 days long now and still the market hasnt corrected more than 38.2%. So BULLs WIN. We should be target 5650 atleast on the next UPMOVE.

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