Bullishness is back on the street...I was bullish from the lows...now slowly turning bearish...we may get atleast a pullback from this levels...We need to see the nature and extent of the pullback to decide whether to buy the dip...
Market can go up to 4750-4800 area on this move...Before that, we can have some pullback...Or a serious dip...If we go below 4350, then it will be a much bigger correction or start of a new bear move...Any corrections that stay above it may just be a smallish correction.
Note how the stochastics are in the range of highs where it has signalled the start of a new correction or bear move...Better to book profits in longs if you have any...
I have started some small shorts which I will be looking to add to over next few days if we go some more higher...Taking each day as it comes...
Best.
4 comments:
hello sir,
u said "We need to see the nature and extent of the pullback to decide whether to buy the dip..."..........what do u meant here by nature of pull back, by extend i guess u meant not to go below 4367 lvl which is 38.2% retrachment of move from 5299-3790.
regards,
shivangi
Hi Shivangi,
Yes levels are imp..4440 and then 4350 round levels are what I am watching...If we can hold above 4350, then higher targets open up to 4720 and above...
The other thing is that the declines should be slower compared to the rises.
hello sir,
i know i bother u a lot still as i m new to market so i have lot of doubts......so sir may i request u to plz show count for move from 3790 as it is very confusing.............n if possible show internal waves also.
Regards,
shivangi
I doubt ....
Markets make us fool ....
Lot of noise that it is a rally in bearish market
But FIIs and mutual fund companies are buying in big QTY
Are we in a Bullish Market or a start of bullish market again ?
and which will cross 5050 or 5200
Just think about AUG-SEPT 2007
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