Friday, November 4, 2011

Yes I was Right

Yes I was right. I have told you that market will come down even after seeing Parabolic SAR, as there was no reversal signal, even after seeing a gap I was confident that market will not hold the higher level. Bollinger band really work good. The market has crossed rectangle and have been managing a support around 17300-320 this week. As I have told if it manage the support we can see sum bullish run.

I expect a crossover in MACD, probably a negative crossover according to my analysis. From last one week we have seen market playing between 17320 to 17730. Markets have full potential to reach 17918 resistances. And then it will go to a correction again, this time market will slide up to 16782(If it fail support at 17384). And then market will head to 18300.  

For me 18300 is still seem as a hurdle if market manage to overcome it. We will see bullish market. As per my expectation