Nifty – Sentiment change only….Is it a Trend reversal or bear market rally … What changed in last week that it bounced so much ??? click2read

update-animated Nifty – Daily and Weekly Chart update….Is it a Trend reversal or bear market rally …

 What changed in last week that it bounced so much ???

It was Commodity Crash + GOLD crash + Crude Oil Crash which changed the Sentiment of market and FII started buying aggressively as they now start believing that our Current account deficit (CAD) would be much lower….if Gold and crude at this levels.

It was much of a sentiment change and markets were oversold too but perspectively nothing much has changed as All the crude and Gold would not be imported for rest of the year in a day or two…..NOTHING HAS CHANGED MUCH JUST THE SENTIMENT.

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PEOPLE EXPECTED 5300 from 5450 (panic Bottom) and I mentioned it would not come before nifty doing 5740-5830/50….so now here we are at  5785…..Upsides we have many resistances which i have mentioned in charts…..

Now people will talk of 6100 again before any retest to 200 DMA i would not agree……and next month is MAY it always has proved carnage month for stock markets all over the world.

In India from 2004 when the bullrun begun till last year 2012 In Last 9 years 6 times may was a big fall…..(in may 2009 it was congress elected so huge gapup) AS feb 2013 candle is hugely bear if it has to move up it has to close above 6060/6100 atleast….any close below 5680 we could retest long term support.

NIFTY DAILY CHART

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NIFTY WEEKLY CHART

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For my personal views Join me and avail premium subscription email me at chartideas@ymail.com or Sms me @+919768000455

join me on my FB page here https://www.facebook.com/chart.idea.  Also always read Disclaimer & do your due diligence before entering into any trade.

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