Before You Go through our Market View :

investCraft has always issued its mid term view when market breaks a key level to pull out the small investor community from a dilemma of whether to Buy, Sell or Hold in current scenario.

Those who follow us regularly must have remembered our last 2 views -
06 April'09 - around Nifty 3000 (click here to view that report) when pessimism was at the peak in the market - we stood out and declared " Nifty may recover Oct'08 fall very quickly"

We were under line of fire of big time analysts stating our report in media as a stupid & baseless imagination and is against fundamentals .

Just 2 weeks later investment guru MARK MOBIUS issued the same view and declared it as a beginning of bull market.

21 July'09 - around Nifty 4500 - We revised our mid term target to 5200 when whole world was talking about chances of correction after a huge run-up .

On both the occasions we proved our critics wrong - as we have always done . This time we invite feedbacks from our report followers about this report . Please write to us on mail@iicmindia.net and express your views on our market view so that we can find improvement scopes.

We apologize to the complainants who drew our attention towards -  privilege to our Daily Report Subscribers who received the trend reversal alarm earlier than the free mid term view subscribers as stated in our Newsletter issued 2 Days back - 3 Reports that saved millions of investor's money. We'll try to align this report with trend reversal in Daily Report (which is a paid service) now onwards.

 - investCraft Technical Research

Market View on 31 October 2009

Time for a pause Nifty has nearly achieved our target of 5200 (missed by few points) on Muhurat Trading (Diwali , 18 Oct 2009) . Bulls have tried hard to take it to the next level but failed in their every attempt to break past 5200 and the month of October ended up with the beginning of a corrective leg . On 23 July when Nifty fell below 5000 , we have issued an Exit Call for Short Term and declared Sell on rise market and after Closing below 4940 , which was our trend reversal point for mid term , we have declared the trend reversed ( Click here to See those reports) . If you check the Daily Charts given above , Nifty has maintained Higher Top and Higher Bottom pattern , since 4940 was last higher bottom , closing below this bottom has reversed the trend for the Target 4550 for mid term . After break below 4940 , we do not see any support till 4640 - 4660 range . So a significant bounce can only be expected from 4640 - 4660 range . The length of the bounce can range from 3% to 4% from these levels - i.e. maximum till 4800 - 4850 . So the traders who want to play for a bounce should only enter near 4600 - 4650 with a quick exit view either above 4800 or stop below 4600 . The Final bottom of this corrective leg should be in the range of 4380 - 4520 . We would like to mention few points with this view  - 1. In heavy volatility , our levels can have a difference of around 1%  and 2. when this corrective leg gets over , we expect a V-SHAPED recovery So we'll come out with our next view when this corrective trend get reversed and the mid term trend get an upward bias.