Saturday, September 18, 2010

Nifty Analysis : DONT MISS !

Please check the attached chart.

As seen on the chart we can conclude the following :

1) From June 2006 to Sept 2007 (14 months) the market was in a sideways trending
move between a band of 2800 to 4800

2) A BREAKOUT from this band in Sept 2007 had taken our markets right from 4800
to 6300 with consistent weekly GAINS.

3) Similarly from AUG 2009 to SEPT 2010 (13 months) the market was in a sideways
trending move in a band of 4400 to 5500.

4) Recently at the extreme right of this chart we clearly see a WEEKLY CHANNEL
BREAKOUT.

THIS MEANS - 6300 CAN BE TAKEN OUT V.V.EASILY NOW AS THE FIRST TARGET OVER THE
NEXT 3-5 MONTHS.
Cheers,
PREMAL