In the last one hour, Nifty future rose by over 100 points. What prompted it? For those academically inclined may find it interesting to see the chart and my notings thereon. With use of only Fib levels, it was possible to get this TURNING POINT. For those who attended the last workshop would recall, that lot of empasis was put on 1.618 level. Here's a live example of it.
I give below quote from para 1 of Dr. Sastry's Astro Technical guide for 19.6.2009 :
"Outlook for 19.06.09:: Market expected to open better and immediately may become weak from (10.15am) and recover from 11.15am to 12.10pm and may recover from 12.20pm or from 2.30pm. "
Incidentally, market turned after 2.30 and making higher bottom of 4219. May be, time did the trick!
What next.... lets leave it for Monday Market Review.
Have a nice weekend.
Ketan Asher.
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