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 gap through a potential short term target is extremely bullish. The market does not want bulls to enter at these levels either.
Applying further mathematics, we are getting a cluster of potential targets all bunched around the 4550 to 4602 range. We also see a rising trendline, which has been tested several times historically, which may provide a roadblock.
At times like these, it is foolish to jump on the market in desperation. The market always allows a suitable entry.
Technically the position now remains … the suggestion to buy on dips would remain valid only for very short term traders. Others may tighten stops and allow the market to exit us from the winning positions.
Plan your trades and trade happy.
1 comment:
Sirji, how did u arrive at july 17 time cycle ?? as per my calc, i am getting 19th.
is it now correction upto 4340 ?
reg
ketan
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