Nifty yearlies--2012
Nifty 6326.40 5554.27 5089.14 4158.86 3693.73 2921.60
The market is heading lower before any signs of a LT reversal, which virtually puts the YS1 at 4158 on the radar for 2012. What is unlikely is to see any market take as strong of a move in back-to-back years as this market made last year. So, if price drifts beyond the YS1, then it means the YS2 at 3693 contains for the year.
Heading north, the above scenario virtually puts the YR1 at 5089 on the radar, but it will also possibly contain