Getting ready for tomorrow.

As I write this, the American Markets are enjoying a decent rally, almost 2%. Indian markets are in an intermediate downtrend. Rallies should be short lived. The bigger gains should come from selling in these rallies. For day traders, it is possible to take trades on days when there may be the possibility of an upswing. The intermediate trend affects day traders, but less so.

The Nifty has seen four consecutive days with lower lows. The Index may now be ripe for an intra day rally. Any rally will face resistance at 2750.

When will the Nifty touch 2450 ? The answer is: Only the Market knows what it wants to do, and, when. The 2450 number does not emerge from any magical calculations. It is the arithmetic target of a trading range breakdown. Usually, trading range targets are met.