wishing you all a Happy and Profitabile new year. From now onwards i would be posting regularly in the blog. i have waited for the turn of the year. Now comming to nifty if you can see in the chart the trend line from the August 13 low has been broken in the chart and nifty has taken support at the other trend line from October lows. As the longer time trend line has been broken the we have chances of that being adhered to. if the nifty is correcting the rise from August lows then we have bare minimum correction upto 6100 levels and in my view the fibonacci 38.20% retracement up to 5923 to be realistic and if its taken out then to around 5771 levels. We would discuss at that time what the larger time patters and its implications.

M.Sri Mahidar

Trend is Friend.