yes..down trend started...

Please see my previous posts that the rally pre/post budget may not be. Yes, as seen from the international markets the medium term / long term trend reversed. Reason may be anything. We have to undergo a major correction before a rise.

Now, in the year 2010 one has to see one lower circuit breakout. The 20% rise gap has to be filled now. Time zone is Sept/Oct '10. One has to wait for taking long term investment idea till the correction. Buy anything at nifty 3600 zone.

No prebudget rally???

As seen from recent trading it is observed that daily range is reduced, market feels very strong resistance, index based stocks are facing profit booking, FII data shows that shorts are being build up in stocks futures in F&O, all international markets are ready for medium term correction. This shows that though q3 results are good the inflation pressure is being felt and RBI may act for stimulus withdrawal now it self. One correction is due for further rise which may be after 6 months??????. The downward correction may be expected around 1000 points in nifty.

Support as per weekly charts 5160 resistance 5260-5360.