refer link .http://pankaj564.blogspot.com/2009/06/market-status.html
it was posted on 4th june.next day as per expectation we went upto 15257 and started selling off. i had given a comment when we were near 15250 warning that it is becoming dangerous to be on long side.
finally today broad based sell off is seen. in sensex we are at lower lvl of a range which i mentioned on 4/6/09 at 14600. but corresponding lvl in nifty was around 4450 and it is broken decisively. even global markets are also showing heavy profit booking. what next?
on breaking 14600 we are going to see more weakness. it may be prudent now to sell on rises.
refer long term rsi chart posted today.
only IT sectors leaders like infy, wipro, tcs were showing some strength today.
Monday, June 8, 2009
DOW STRUGGLING AT 200 DMA
UPMOVES STARTED GLOBALLY IN FIRST WEEK OF MARCH. WE STRUGGLED FOR FEW DAYS AND CROSSED 200 DMA IN APRIL WHICH WAS AROUND 11300.DOW HAS REACHED AT 200 DMA NOW AND DOW IS STUGGLING THERE AND IT IS NOT ABLE TO CROSS IT DECISIVELY.ITS FAILURE TO CROSS 200DMA WILL CREATE PRESSURE IN WORLD MARKETS.
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