This daily of the MSCI World Index indicates that the current whipsawing (read volatility) on the Nifty could be just be an aberration.
The current setup, though difficult to trade in the short term, is perched right atop the medium and longer term supports at 5,150-5,170.
The MSCI Index on the other hand is within a well-defined trend channel. The low at around 330 have found support on a multi-month trend channel. Upsides till 355-360 are now in store and this leaves almost a 10% room from the lows.
So, the medium term stance remains bullish. These are the best risk rewards on the world equity markets for the next few months.
The Nifty targets are revised to 5,950-6,000 from hereon and reversals are pegged at 5,150.
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