These are my personal musings. These are not in any way meant to be trading advise. To view the full chart, right click and open in a new window.
The market recovered quite sharply from the lows of yesterday. Even though we had a good up move, the extreme short term trend is still down. Since the intermediate trend is up, it was suggested in my earlier posts, to use the short term dips to buy. Please check my post of Friday …. Click here.
The Nifty is back in the zone of uncertainty, but this time around, it does seem to have gathered enough momentum to break out upwards. The markets are just waiting for a cue from the FOMC meet, and then take any decisive move.
Let us wait and watch.
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