Nifty Takes support at 200 days Moving avg.

With today's opening gap it is clear that Nifty have found support. Its nr 200 days Moving avg. so the low of 17th of 4002 makes an important support now.

200 days EMA comes to 4040. The bearish indications given in the earlier post seems to have ended.

It is now indication that the traders have to now switch their caps from bears to bulls.

Parsvanath Breakout . . . .

During the down trend all the stock makes the trendline joining the tops. This is the down trendline. I have found that Once this down trendline is broken with a good volume the stock rises and the bull phase begins.


This phenomena is seen in Parsvanath Developers. Yesterday's close above 324 have made is a good breakout case. Now for the traget we can assume 2 rising trendline from the tops. As below
We can then safely kkeep the target of 375 and 390 respectively.