Starting this week, every one including tech analysts, bizz channels and magazines started crying our stock market is in bear trap and they are talking about more downside even upto 3,800. This is making all investors confused and they are in so much fear.
The reasons for this,
*) Oil prices are rising everyday
*) Inflation rates not get controlled
*) Global cues etc... etc...
If you are believing Indian growth story and know how to interpret the chart technically, you may find there is no need to be in panic.
Nifty Weekly chart shows the strong support at 4449 and it has been proved in this month twice.
Yesterday after market hours, RBI had hiked the RepoRate by 25 basis points so for sure today market will have gap down opening (making nifty go below 4449 third time).
If Nifty manages to close above this support level today and tomorrow (weekly close), we are for sure we had not enetered bear market.
Once the above mentioned factors turns in favour, we can expect a big rally soon.
Thursday, June 12
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