immediate selling pressure brought it down as was forecast. After 10.17
a positive wave emerged and tried to break the high but failed under the negative wave
as was forecast. After 12.42 the decisive wave forecast by us also emerged. After 14.14
the bear wave became stronger and the days low was hit as was forecast.
Dow at 6547 was traded at 12 year lows from its 2007 high of 14079 and Nikkei at 7054 was nearly 32000 points below its 1989 high of 38916.
The World Bank also has forecast a shrinking of world economy for the first time in 60
years.The IMF is talking about the Great Recession and a probable African crisis.
We had given the reasons for this about three weeks ago on 21-02-2009 as the complementing
seven year and three year bear waves which begin to separate from each other by around 20-09-2009 and final separation by 2012.
In the annual cycle the stockmarkets crossed the three year bear wave on 09-03-2009 and immediately on 10-03 -2009 U.S.stocks rose sharply-Dow was up by 5.8% and Nasdaq
by 7.07%; Japanese Nikkei bounced from the 26 year low by 4.55% etc. This is a clear
proof to the theory itself.
Today important momentum changes may be seen in the market at 11.33 and 13.25.
Today Nifty likely to show support at 2543,2533,2524,2518,2500,2494,2470 etc and face resistance at2553,2563,2578,2602,26098,2633 etc.
These forecasts are given for general information only. The market may behave contrary
also due to unknown forces. All market actions will be at the individual's own risk.
Vidyabhaarati.
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