20:35 IST: Dow Jones after a long time fell nearly 2% (at the time of this writig)...how ever it has support at near 11980, it is interesting to see what it does here. We feel it will hold here, however a break below this has target near 11800 unlikely for now due to high liquidity in the markets.
If we follow China Index's pattern that will be followed by Dow after 3 months, DJ should correct at leat 20% from its recent peak at around 12300, that is almost till 10000 between February 2011 and August 2011. It is interesting to see how market behaves during this time! Dow formed its peak of 12300 in February after 3 months from the time Chinese Index formed its top in November, and correcting from February ie after 3 months!!!
No comments:
Post a Comment