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Tuesday, November 11, 2008

Get ready For the New Upmove in Nifty and Dollar($)

We are now going toward the bottom again and this time bottom will be tested or new one will be created just below it(near 2000-1900 odd lvls) and then we go for the good up-move which will be continued for few weeks to come or may be months the target for this up-move will be around 4000 odd levels. once this bottom is tested the people will loose any hope of market rallying to new levels and this is the time market will make the new levels. Again only 20% of the participants will be going long for this move and 80% will enter at around 4000 odd levels thinking that they are going to miss the rally but then again they will be trapped at the higher levels. 

Also reiterating my thoughts on $. I said the $ can reach till 70, my friends still laugh at me seeing the rupee getting stronger. But again every one says 50 is the high and it won't go beyond.I feel very strongly that it will touch 55-60 in next 6 months and 70 in a year an half. I don't know if I would be 100 % correct but I think because of the $ being so valued entity and every country is invested in $ in is some or the other way for Oil trading or for hedging or for imports/exports anything, it is in some way or other connected to $ investment. Now because of very bad credit crises every body wants to liquidate their investment in $ and thus every body is buying the $. This is the reason I think for $ rocketing to sky in spite of the facts that there are credit crises going on globally. $ is getting stronger against each and every currency. I feel that $ and U.S. market both will rise. I guess the current pause given was because market needed the breather. $ moved from around 38 Rs to 50Rs and for further move the pause was necessary i guess. Time is god , let see if we see these figures.

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