3 days back everyone was talking that market will go down sell sell sell and don’t buy ever. While I predicted to BUY the very next day if market trade above 4600 and it did - http://blog.vikasverma.com/2011/12/nifty-nifty-oh-my-nifty.html
20 Dec, 2011 – I said, Buy above 4600 on 21st Dec
21 Dec, 2011 – Market Opened @ 4636 (above 2%)… so soon retraced to near 4600 level but did not broke 4600, so BUY @ 4630
22 Dec, 2011 – Opened lower around 1.5% today, but did not go below 4600 and finally closed @ 4733 – already 100 points of gain
23 Dec, 2011 – Today market is trending side ways, near 4750 (mostly above 4750) which is another crucial level.
If you are not very risky player then book some profits and hold the rest. Market can go RED again and trade below the RED down trending line.
PS.: Cautious buyers should buy only above the breakout from the upper blue line and wait for a target near touch of the upper red line.
Chart of NIFTY as of NOW (23 Dec, 2011 – 12:50pm IST)