Nifty
blew through the 30 day moving average at 2795..closing at 2920
yesterday. On the upside, the chart has a 3055 upside level and 2515
on the downside. The dotted lines show a 10% band around the 30 day
moving average. I continue to be skeptical of any sharp upside
break-outs...there is too much local uncertainty for sustained
investment.
I
continue to target 2500 as my long term buying levels; base-building
will last a few months. Below is a chart showing a blow up of the
recent 90 days.
