1.Bailout plan :- Rejected by the US Congress....Negative..
2.Asian markets :- Fell sharply but off their lows right now(8.35AM)
3.Sgx Nifty had a low of 3673 and trading at 3705..not much help..
4.As we have been falling since 4293 top made on 19.09.08, we might trade off the lows in the morning but might give away the intra gains as the uncertainty still lingers.
5.Investors can start picking up the stocks of their choice at their desired levels in small quantities as this down move seems to be the last leg down in weekly cycle, though it might have many sub waves before completing a bottom.
Read Colin Twigg's latest for a clear perspective.
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Nifty trended down strongly as per the technical readings, aided by Asian market & the uncertain US bailout details.
Till we see a strong positive divergences, periodic counter rallies likely to happen.
You can see from the table the likely resistances.
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