hi ashish,
ok. now to TA.
sensex has a support at 18450, correspondingly nifty 5520.
a definite pullback from these levels will happen.
if these levels do not hold depending upon then world indices,
major support is at 17170 only (5000 in nifty), which was the low made on oct 22 '07.
so 17 k mentioned was not ambiguous number or prediction.
i just a gave a one-line reply to the prev post.
pl note, except sensex and shangai index , major world indices are trading below their 200 dma.
currently 18450 (5520) seems to be the bottom.
ok. now to TA.
sensex has a support at 18450, correspondingly nifty 5520.
a definite pullback from these levels will happen.
if these levels do not hold depending upon then world indices,
major support is at 17170 only (5000 in nifty), which was the low made on oct 22 '07.
so 17 k mentioned was not ambiguous number or prediction.
i just a gave a one-line reply to the prev post.
pl note, except sensex and shangai index , major world indices are trading below their 200 dma.
currently 18450 (5520) seems to be the bottom.
if index goes below this , then this & if it breaks this then this....
but what should a layman do ???
he is the most confused man on the street...
if he waits fof the last tgts to exit , he will b wiped off...
a technical guy especially on the cartoon network channels always speaks with double mouth.....
if index breaks 20dma , it will take supp @ 50dma , if it breaks it then 100 & so on......again he will tell if on the upper side if it breaks this then this.....
analyse the past , ride the present & the future is taken care of automatically.....
till sensex holds 18975 on close....no problem for bulls.....