Nifty - An analysis from 2001 - 2011 (Strictly for an Investor )

Let's have a look at the weekly charts of Nifty from 2001-till date. This analysis would be based on simple trend line analysis and the more data we have the more would be the accuracy.If we have a look into Nifty chart we can see that it was consistently making higher tops and higher bottoms from 2001 till the time of recession. As an investor though he cannot catch the bottom with the simple trend line he could ride a trend. Let's come to the present scenario. Nifty is consistently making lower tops and lower bottoms and that should be considered as a bear market.As per the weekly chart the trend reversal could happen if Nifty consistently gives closing above 5200 in the short term and above 5330 in the longer term.If we have a careful analysis of this weekly chart we can see that above these levels Nifty could ride to 5600 levels.If Nifty is giving a consolidation a these levels as this is a downward slopping channel we could be in a bullish trend above 5200 levels provided it should not give a lower top after that.In my previous posts i was talking about 4500 levels because that year trend line got broken below 4720 , it could be a trap but the market has to prove that by crossing the above mentioned resistance levels to confirm the upside break outs and till then it is still very much in a bear market.(Please click on the chart to have a larger view)
(Followed by Nifty weekly update and a comparative analysis with the global markets (will be updated before Sunday evening)