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Sunday, 6 October 2013

India CNX Nifty Index: 6 October 2013, Sunday, 6.55pm Singapore Time


India CNX Nifty Index: 6 October 2013, Sunday, 6.55pm Singapore Time 

India CNX Nifty Index:

1. Strong Support Rebound at PINK Support and Black Support indicated by RED Circle above.

2. Minimum Upside Target: 6188-6320 points which is a long term resistance band (strong resistance) indicated by BLUE Box above.

3. India's Financial Markets Rebound as well as the Indian Rupee Rebound was what had been reiterated by me for the past many weeks. Both will rebound until I turn reversal on everything out there.

4. India's current rebound, in line with the rising rebound tide around the world (refer to my world Funds Flow Analysis Indicator), may be met with more obstacles than other markets as its credit rating is targeted by international rating agencies. This puts some brakes to its potential rate of growth.

5. If  6188-6320 points multi-resistance breaks up comprehensively with furious rise in volume, India will be back to a long term bull market; otherwise, this testing of 6188-6320 points, if successful, will serve to confirm India's long term weakness

6. If the rate of rise for India is slow during this rising tide of rebounds until I turn reversal in everything out there, then that is it for India.


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