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.
I am happy that the market has respected the levels suggested on Tuesday, 3 April. The short term trend is still up, and now will remain up as long as the Nifty remains above 3619.
The short term trend will be confirmed when we see a violation of 3902 high of 23 February. At the same time, I would like to sound a word of caution. The 3620 low has been too low for comfort. And we do not see any strong support coming at these levels too. Therefore, in my estimation, the upswing we see may not be very high. In fact, it may be capped at around 4170, in this phase.
No doubt, the long term trend is still up, but these gyrations of the market will kill a small trader. Only an investor can stand a chance.
Plan and trade happy.
2 comments:
excellent targets sirji, however, u hve not mentioned a downside target just in case 3620 is broken,,, kindly enlighten on that too....
reg
ketan
sirji, long time no posts !!
Post a Comment