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Friday, 19 December 2008

Nifty on 18 December 2008

Nifty is still inside the rising wedge. The wedge is ripe for a break. It attempted a breakdown but pulled back towards the top line of the wedge. We expect a break attempt to occur at least today or Monday. Rising wedges generally break down but on rare occasions break out up side. It may also be worth noting that lots of third rung stocks, the so called small stocks and the so called market followers are shooting up by abnormal values. Is this an indication of some December / January like situation ? Let's wait and see.

1 comment:

Elliot Wave India said...

your analysis is good but so much clutter and advt on your page makes it unattractive!

20 December 2008 at 04:31

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