Sunday, February 3, 2013

Nifty Astro Technicals- Now the technicals Feb 04-08, 2013

The current fall in Nifty has pushed it beyond the lower boundary of the Keltner Channels.At 50% of Fibo, we have a likely support at 5967.The sheer continuation of this fifth wave, which began from 5548, on Nov 20, 2012, has already consumed 51 days.So we may give credence to the theory that fifth wave is getting extended. If so we look at the current up trend and micro down moves as part of the micro waves inside the 3rd wave of the 5th wave.
International situations also are adding to this understanding. It looks like, internationally, money is now moving out of bonds and other fixed income products, into equities.
Our domestic funds are selling primarily because they need funds to subscribe for the several Government sponsored stake selling in many companies.

Have a great week of trading! Prudent money management and always allowing the market to make the first move are two permanent strategies which will make money for you and prevent you from losing money, all the time, no matter what the market condition is.

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