Tuesday, August 13, 2013

Case Study of Double Tops Signals Huge Nifty Fall

It's been a long long time since I posted last and it does call for an apology on my part, specially to my regular readers. But all this while, even while I was away, the Nifty was still following what we had predicted. In my last post, I had suggested that an upswing was expected which had a target of between 6090-6140. I had also mentioned that we should book profits above 6080 and should take a short position from there for targets of 4300 and below. And the Nifty did turn around from 6093 and has been moving down ever since and it has even crossed the previous low of 5570 it had made in June this year, clearly indicating the beginning of a new bear market.