Hi
Coming week will be an interesting month as like other months. However, it will be a week when the market is likely to try out of range and move in either ways.
The formation of a dark cloud cover (approximately) on the last trading day and also, formation of bearish meeting lines says that the market will take a downturn or, at least preparing for a downward move in later part of the week. Those, who have taken long position on 26 Feb 09 have started losing money and it will be crucial if the nifty closes below 2730. Since, there are many activities in 2700 Put and 2800 Call options, both will play active role before nifty migrates to a trend.
The next week will be interesting as the daily chart says Bears Days and the weekly chart says Bulls Days.
Moreover, the coming week will be interesting to watch or play as because Reliances weightage on nifty has power to give a direction. And, outcome of Board meeting of Reliance Industries on Monday will be crucial in order to navigate nifty and sentiment.
However, I assume, even if there is a Positive outcome of Reliances Board meeting, the chart will lead the market in subsequent days. Presently, market technical chart is very much driving the market.
Friends, what to say?
