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.Has the Nifty missed its target by a whisker? As of the end of today, it does look like it.
As suggested earlier, we did see a roadblock around the 4550 to 4602 range. Also we have encountered a cycle in time. What the effect it would have still remains to be seen. The time cycle has shown its effect, with a 50 point correction.
It still does not seem that we could see a significant top here. 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. The technical status to buy on dips may arise in a few days. Till then, only patience may be suggested.
Plan your trades and trade happy.
1 comment:
Sirji, 20 june tomorrow and maybe 4600 too ! still no correction ??!!
hope not !
reg
ketan
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