Looks bullish amidsts global weakness????

Technically markets will go to bullish after crossing nifty 2935. Yesterday's trades shows that markets may go up in the next week. As the situation is not good in both the ways one may not have positional trades for one week at least.

See from the parallel lines on the chart. market has crossed the lower line and hence has to go up to the higher line nifty 2935. MACD +ve and Stochastic shows market has to go up one to two days. Open interest data is very bullish with +ve addition in Reliance and nifty. Very high put writing. If goes up and closes above 2935 this level or 2830 will become temporary support. Then markets will go very highly bullish. Else the lower levels for exit is 2830 and reverse. Except the Global cues every thing is positive.

Rumors Vs Reality:

Very strong rumors are in the markets that markets will fall drastically to new lows from next Friday and also markets will be 13000 sensex around march this year. Which will be correct. See technically and trade intra day else trade by stochastic over bought/ over sold with strict stop loss.