As stated in my post yesterday, the NIFTY continues to show weakness. Today the downtrend got strong and hence the sharp fall. However all is not lost in this gloom. There is indeed a silver lining in this too. My presumption is that most of the times the series reversals happen if the trend at the beginining of the series is very strongly in favour of one direction. In this case the trend has started very sharply with a downward bias, maybe this series might surprise all of us by closing up!!! Also another pointer is that although some downside is left, yet if the downturns happen with the same pace as today we might start seeing signs of bottoming out. Already some shares look interesting, so Nifty cannot be far behind.
02 June, 2008
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