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.Another gap opening, an immediate correction and a neutral closing. The market is really going to test traders’ nerves. It is still hovering around the historical trendline. In all probability tomorrow could be a weak opening.
Our cycle in time could … just could show us an intermediate top tomorrow. As I am fond of saying, I could be wrong, and the market is the ultimate supreme, I could suggest to allow the market to tell us what is wants to do.
Short term traders could monitor 5577 on the top side and 5418 on the lower side. If either of them breaks, we could take a guess at the short term direction. However, the long term and intermediate term trends are still up, and it could be suggested to buy on dips.
A stop could be placed at 5069 for deciding the intermediate trend.
Ultimately, it all boils down to, what time frame you are looking at, and what is your risk appetite. And the final word is, trade happy after planning your trade.
1 comment:
Sirji ! u never clarified that dips will be as large as valleys ! haha
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