Tuesday, April 28, 2009

Time to be bearish?????

Today upward moving trendline from 2556 got broken.for tommorow in case of a bounce this line is going to provide resistence .

One could see negative divergence on daily chart,first time after the up move stated from 2500 levels, also today market reacted to that negative divergence and nifty fell around 3% , does this mean we could see some deep correction long due now,only time will tell.

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