Can Nifty Show a Dead CAT Bounce as its Global Peers

By | March 11, 2009


Closing of Nifty near its recent lower level around 2575 has left a hope of a bounce-back . Nature of this bounce can only be decided after viewing the intensity of it .Whenever the formation shown in figure emerges on the charts , it provides a strongchance of a bounce. If nifty would have closed below 2560 ,
This bounce may sustain , if and only if nifty cross and close above 2675 , around 100 points above current levels . If that happens , we may further witness a sharp upmove till 2900 . but lets not go far in positive anticipation .

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