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.As was suggested yesterday, there was some panic buttons hit on the open, with a gap down opening. However, the market was resilient enough to recover right from the word go, and has hit a short term objective which we have been seeing on my charts for a long time.
When a mathematical objective is achieved, it is logical to seek the next probable objective. That falls around the 6400 to 6450 levels. The time cycle of 13 to 16 December is just around the corner. Therefore, we as traders should remain on guard for some volatility.
Maybe … the market may make a short term top around these dates.
The Nifty still does not seem to have peaked. We could retain our long term bullish outlook, and it may be suggested to buy on dips.
Trade happy after planning your trade.
1 comment:
sirji, r v not forgetting mr gann at around 62-6250 ?? and it wud only be the second time we wud have met him...!
reg
ketan
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