DOJI comes to rescue the bears

As per NSE website :

NSE is the 3rd largest Exchange in the World in terms of number of trades in the Equity Segment. Today further landmark was reached with record number of trades, volume traded and number of shares traded in this segment at NSE.

The turnover in Cash segment on 19th May was Rs 40,000 Crs, surpassing the previous high of 28,476 Crs on 1st Nov 2007.

Number of trades touched an all-time high of 1.12 crores (1,12,60,392 trades). Similarly number of shares traded was in excess of 1.92 billion. In the Currency Segment for a 2nd day in row, NSE clocked more than 1 million contracts. The segment clocked USD 1.06 billion (Rs.5090.80 Crs) on May 18, 2009 and over USD 1 billion (Rs. 4845.72 crs) on May 19, 2009.

Lets see last 2 days action

If you see today's volumes , it was highest ever and was more than double of the average volumes from many days . That tells that there was a huge participation today . We can see that there was a DOJI made today on daily chart , DOJI tells us that there is uncertainty in markets . DOJI with strong volumes means strong uncertainty , Markets went up to 4500 and then reversed from there on profit booking , 4500 is also a good resistance level point if you see 2 yrs charts .

IF you see previous day chart , There was almost no volumes , and there was great price action . This rise in index looks weak to me , It has come up too fast , It needs rest . I expect it to consolidate around 4000 levels , because thetas the logical levels for it . After a correction , markets must go up again .