This's what we posted on 27th Feb 2013@
Nifty@ Not to worry, near to current bottom!!! Big Bounce Seen
On 8th Feb 2013 we categorically said that below 5850 Nifty could fall 90-100 points and it did where on the downside we gave support level at 5766/5750. Now what???? Strong support levels are bounce back levels. Nifty already corrected 6% from its recent top of 6111. To be precise the rally got started above 5600/5608 level and if by any chance if Nifty comes to near that level its a clear cut buy without any fear and little bit of shopping can even be started now in good blue chip companies.
Its an personal assumption.
Nifty@ Not to worry, near to current bottom!!! Big Bounce Seen
On 8th Feb 2013 we categorically said that below 5850 Nifty could fall 90-100 points and it did where on the downside we gave support level at 5766/5750. Now what???? Strong support levels are bounce back levels. Nifty already corrected 6% from its recent top of 6111. To be precise the rally got started above 5600/5608 level and if by any chance if Nifty comes to near that level its a clear cut buy without any fear and little bit of shopping can even be started now in good blue chip companies.
Its an personal assumption.
And what happened since then@ Upside of over 200 points
On 4th March Nifty hits intraday low of 5663.6 and today 7th March at close Nifty was at 5863.3 where it touched intraday high of 5878...an upside of over 200 points in Nifty when most of the market participants were talking of sub 5550-5500 levels for Nifty in various business channels.
Going with that view who could have participated in the rally????
We gave just one view and nothing else.
Kind Regards,
Manish Bothra,
India.
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