Nifty to Make Double Top and Market Correction To Begin?
Sep 19, 2010, Indian Stock Market is getting more attention worldwide on increased GDP forecast and increased fund flow from foreign investors and hedge funds. This shows that Nifty is approaching a near term top in the coming weeks and stocks are more vulnerable for a sharp pullback.
Nify closed on 17 Sep, 2010 at 5890.70. When Nifty crosses the psychological level of 6000 and also the double top, many smart investors will exit their long positions. However it may not be good time to short the entire market. Better to exit from the long positions and wait for the steep pullback / price correction to happen, before the rally continues.
Still I am positive on Indian Stock Market and Economy, but the stock market correction can not be avoided. Market Top will occur when almost every one on the maket. Currently Indian market is on that stage and it will casue more volatility and wild swing in the stock market.
Very High Risk Trade is to bet the indian market to go in either direction by betting the increased volatility.