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.It has been quite some time from my last post. However, so far, the market is still respecting the bullish sentiment.
Yesterday, a correction was expected but did not happen. In such an event, now we may be still holding our long positions.
Today, the Index has made another short term high.
We see quite some churning going on. Banks, which had been exceptionally strong in the last week have been sideways. IT stocks have been taking a beating. Metals have been strong. To make things short, there could be a good churn going ahead. This could contribute to the volatility in the markets.
I have also drawn up cycles in time from various historical highs and lows. This week we have several cycles falling together between today and 8 July. It is normally noticed that when such cycles in time fall in a tight cluster, we witness volatility. Therefore, it is suggested to be very cautious.
Plan your trades and trade happy.
1 comment:
gud 2 have u back after long sirji ! Sirji, do tell us how reliance industries is looking on the charts, since it is index heavyweight.
has it been "churned" - if so does it mean it will fall to 1400 - the mukesh ambani offer ?? i am long so i am asking....
tx in advance
reg
ketan
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