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Why Nifty to dip? The reasons are:
1. On 11th Feb 09, appearence of Hanging Man followed by confirmation sign of downtrend when nifty closed below the real body of Hanging man on 12 Feb 09.
2. Buy on rumours and sell on news funda will be completed after Interim Budget tabled on.
3. Bullishness on Bad News - IIP figures were below market expectation.
4. Rising open Interest in Call/-Put Options
5. Low volume says excessive participation of operators
I believe, chart tells everything. Be cautious while initiating a long position.
Be alert. Its my short term view. Donot assume market to dip for ever.
What do you think? Lets for this week.
1. On 11th Feb 09, appearence of Hanging Man followed by confirmation sign of downtrend when nifty closed below the real body of Hanging man on 12 Feb 09.
2. Buy on rumours and sell on news funda will be completed after Interim Budget tabled on.
3. Bullishness on Bad News - IIP figures were below market expectation.
4. Rising open Interest in Call/-Put Options
5. Low volume says excessive participation of operators
I believe, chart tells everything. Be cautious while initiating a long position.
Be alert. Its my short term view. Donot assume market to dip for ever.
What do you think? Lets for this week.
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