NIFTY KI KAHANI

After making lows of 2539 on mar 09,2009 nifty started its upmove and have seen meaningful corrections 4 times(closing below 55dema for more than 2 successive days)

date nifty hi date nifty low points corr

jun 12,09 4693 july 13,09 3919 774

oct 20,09 5182 nov 3,09 4539 643

jan 6,10 5311 feb 8,10 4675 636

apr 7,10 5400 may 25,10 4786 614


now if we consider 6339 highs made on nov 8 2010, and a correction of 600 points as nifty has closed below 55dema ,then we get a minimum target of 5739

will nifty repeat the same of near 600 points correction...lets wait and watch....

keeping fingers crossed as charts are indicating of strong supports near 5840-60 levels

i am expecting an intraday correction upto 5800 +/- 10 pts next week and a strong bounce from there for trgts 6033 next week,may not close below 5840