Nifty at 3 yrs high , what do 1 yr chart say ?

POSTED BY Jagoinvestor ON October 22, 2010 3:34 pm COMMENTS (2)

This is current chart of Nifty for 1 yr , I can see the long term trend on the chart , but a possible 1-2 weeks of consolidation (cool-off) , after which it can breach the all time high of 6300 . What all you guys think ? Is it a good time to invest even though the markets are very high ?

2 replies on this article “Nifty at 3 yrs high , what do 1 yr chart say ?”

  1. Ram says:

    Manish,

    I think so too. It will go and breach all-time highs. This is not from a technical analysis perspective though. It is just a feeling. My personal opinion is that this is not thetime to invest. Infact the time to invest for me ended when PE crossed 24.

    By the way, do you still stand by your gut feeling that Nifty PE will go to 30 this time?

    Ram.

  2. Sunny Sodday says:

    Since I don’t know how to read the charts but I believe market will go down by 15% in the mid of November after the successful listing of Coal India Ltd. The reason I think behind is that FII will take out their money in November as they do every year at that time. What do you say?

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