I could be very wrong... but this is a possibility.
Please note that this analysis only addresses Price and not Time. I don't know when these levels will happen but I do think they will happen. Nifty could drop to about 100000 before rising to 12000+
The fact is that fundamentally our economy is getting into deep trouble with crude rising, the Iran issue (India is the biggest crude importer in the world), the falling Rupee , FII money flowing out, balance of payments issues, pre election handouts leading to greater inflation, plus other socio-economic problems and potential socio-political instability.
There could be interim opportunities for Long positions but the major trend is down till about 10000.
As I said, I could be wrong but that's how I think right now. Thought I'd share my opinion.
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Almost 400 points per lot in short trades since 15th May...
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Nifty is on the way down... the economy is on the way down...
@DevangKabra, Thanks... At a simple level I saw the exhaustion candle (daily) on May 15th and shorted a few lots. Anyway we are in a mess - economically and especially socially... it worked for a while because crude prices were low nothing to do with government policy. But the picnic is over. There will be long opportunities but the basic trend is down till at least the middle of next year.