Replica
Market just makes us remembering the last year events in respect of Nifty movement. In Jan 2008, after a heavy sell-off, it tried to remain be in stabilisation in Feb 2008 setteling itself on 5223 level on monthly basis. However, in the next month, it fell on its own weight. Interestingly in Apr 2008, it again attempted to cross that hurdle of Nifty nearly 4250 level. But all was in vain. It was like a short-covering rather than any investors' call. Consequently, its southward movementum picked up.
This time, that crucial level is again being tried to taken out, of course, with three lost attempt. Lets hope, this year may be lucky to achieve the target. Here, Lucky in the sense that it seems luck of investors will play, rather than their conviction. As it seems that convinctions of investors goes vanish when the market approach nearing to that level.