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.Monday has been a more normal bullish day when compared to Friday.
As mentioned on my analysis for Friday, we could see a roadblock around the 4550 to 4602 range. Also we are falling on a cycle in time tomorrow, i.e. Tuesday.
From the way the Nifty has approached these price and time targets, it does not seem that we could see a significant top here.
I notice from comments on my blog, that readers may assume that there could be a significant event on Tuesday. Whereas, in fact, a cycle in time is just a mathematical projection, from previous events. It may or may not have any significant impact. The only reason for my mentioning it is to allow readers to be alert.
In any case, the main trend is still hugely bullish, and it is not suggested to have a bearish outlook.
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.
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