inspite of this post and its meaning , i have something new to share and contrary to this post at this moment
this is guppy ema's plotted on nifty monthly and as you can see , markets gone only once below ema's , in 2008 , the previous instances were just starting of the chart so i will not include them in my analysis .
a picture is worth a thousands of words .
just look at the space between the ema's , its almost even in recent times and markets gone 2 times(december 2011 and july 2013) to test those ema's and successfully bounced from there . the spaces between the ema's and there upward march has not been tampered yet , the elections are quite nearer than ever only 6-7 months away at max? and this is monthly chart , i do not think markets are going to go much down now , infact markets are poised to make new life time highs in coming months .
i am very strong believer of charts and only market sentiment driving the markets theory
at this point i do not even see 5700 being taken out easily , its a monthly chart so anything big change will not be reflected soon so we have to wait and see what happens next , i will be worried a bit only below 5700 now , otherwise i am a bull
:thumb: