Hurst Cycles Trading Software - Accurately Forecast Nifty and Stock Cycles

Monday, November 24, 2008

Possible Reversal Points

Well 2520 turned out to be strong support and market bounced back from that area. I am totally flat now and looking to see if I can short at higher areas. Its risky business as market has some momentum now as is clearly evident from US markets today...BUT I still dont trust this upmove. Not yet. I want to see one more bottom...If its a higher bottom, it kinda seals the deal.

Chart below showing some possible paths and where I am going to be looking to short at. 

Its self explanatory...Short at your own risk however...!..Market has momentum now!  :)