Nifty - for Wednesday 4th

Nifty on Monday and Tuesday took a royal beating falling steadily without hope and a gap down day too. An hour or so into trading today we did see a steady and definite amount of pull back. Was this a bounce (dead cat) ? Too much in too short a time definitely warrented a recovery. How long can we sustain this ? As per end of day candle charts, a bullish candle pattern was formed for today. What does it imply ? Ideally it can imply a reversal as well ..... But we are not forced to take that stand. It can be strong to jack up the market a little up to say 4757 or 4795. 4833 and over will signal some relief for all. Today the recovery was .236 of the last down move of 4 days. Nifty can start on Wednesday on a soft to weak note and then remain a little down and try to recover back not breaking the bottom of Tuesday. Can we go long ? For long term? If you read the earlier article of http://trade-indian-stock-market.blogspot.com/2008/05/nifty_22.html we in fact did the first out of the three targets of 350 points down from 5000 level. We just need some big or even small bad news to trigger off a reaction. So cautious is the key word. Or trade quick and get out quick is the name of the game. If not able to comprehend the tomorrow, it is better not to take buy today sell tomorrow or sell today buy tomorrow trades even. Take each day as it comes.