In the above graph shown is nifty spot for the last 5days.
In this i could identify some hidden image of an butterfly pattern .What ever it may be..in the 19 days chart we can also see an " Inverterd head and shoulder " formation.Many times i have seen the market react as per the technicals not just alone driven by sentiments and that too this kind of un-noticed formation by many traders, can give an unexpect turn in the current trend.
Am i confussing you? Ya, may be i am. Let me tell you one thing clearly unto you is.. Something is going to happen in the coming trading sessions....The market may raise unexpectely and lead a rally about 300 to 400 points from the current level.
When it will happen, it is a big question now ?...It will happen after/before indian Budget or F&O Closing!!!.
We have to wait and watch..Positional traders can benefit a lot, if they can get along with the trend and also make use of the call/put Hedging methods now.