I expect NIFTY to drop to 4350 to 4325 and rally again to 4550-60. It can happen in a couple of days. It is maximum target level I expect it attain this week. There after it could go range bound rest of the week.
I have added the EOD chart too today, for you to have a feel of what is going to happen in the coming days….
Look at the Circled areas. Circled area "A" shows the Head and Shoulders pattern formed during July-Aug 2008. Look at the similarity of the pattern "B" being formed during Jun-Jul 2009; nearly one year apart…
Is the bell ringing in your mind? Do you agree that Markets are waiting with a Nuclear Arsenal in the pocket?
So play safe…..That is all I can say at the moment. You know what I mean?
