CAN THE MEDIUM TERM DOWNTREND BE VIOLATED?

YES, IT CAN A CLOSING ABOVE 4930 WOULD PUT DOUBTS ON THE MEDIUM TERM DOWNTREND, SO WATCH OUT THOSE LEVELS, AND THE TREND ABOVE THAT LEVEL.

ENDING DIAGONAL TRIANGLE IS OVER, NOW WHAT?, WHATS THE MEDIUM TERM VIEW?

THE MARKET HAS MADE A MEDIUM TERM TOP FOR A GOOD CORRECTION TO LAST BETWEEN 1-3 MONTHS, EVERY RALLY ENDS WTIH CORRECTIONS GIVING US OPPORTUNITIES FOR THE LONG TERM. REMEMBER ONE THING THIS CORRECTION HAS TO BE MINIMUM 4000 ON THE NIFTY FOR THE RESUMPTION OF THE LONGTERM UPTREND, WE COULD ALSO HAVE DEEPER CUTS BELOW 4000 NIFTY WHICH COULD TAKE US TO 3700-3800 AND IN EXTREME CASES MAYBE EVEN TO 3500, SO KEEP IN MIND 4000 IS THE MINIMUM TARGET FOR NIFTY IN THIS CORRECTION,ALWAYS KEEP 50-100 POINTS DIFFERENCE TO THIS LEVELS. U MARK MY WORDS, TIME WILL COME WHEN YOU WILL KNOW THE ACCURACY OF MY ANALYSIS. BELOW THE WEEKLY CHART OF NIFTY WILL SUPPORT MY VIEW.

NIFTY ANALYSIS FOR 30TH OCTOBER 2009

NIFTY SHOULD SEE A BOUNCE BACK TO 4850-4900-4950 IN THE SHORTERM AND THEN THE RESUMPTION OF THE DOWNTREND.