Tuesday, July 1, 2008

Nifty Striking Distance from H&S Target of 3750 - SG

I had earlier posted a chart with the title, Nifty Head and Shoulder, giving a target of 3750. We are within striking distance of this. The link of that chart is given below.
http://bhoomitrader.blogspot.com/2008/06/nf-head-and-shoulder.html
However, it is said that a 'Bear market does not have supports and a bull market has no resistances'. This is holding true this time too.

To add to the woes is the falling international markets, boiling crude prices - which are taking the toll on our economy. On the other side, we have the UPA-Left-SP drama. This political uncertainty will continue till July 15 at least.

Astrologically too, this is the worst time, with Saturn and Mars in conjunction on July 10-11, effect of which will be seen till July 15-16. If I remember correctly, the fall of 2000 bull run also happened during such an astrological position.

Many may be surprised with this post and confused whether this is technical/fundamental or astrological post. Perhaps a bit of everything.

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