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.
According to the analysis yesterday, it was suggested that the market is readying to correct. And it does seem that the correction has started. The cycle in time mentioned earlier was on 13 January. It does seem that the market has jumped the gun by a few days.
Maybe readers would get tired of reading the same words again and again. However, it does seem appropriate as a reminder, that we are in a long term bull market, and we would see many short and intermediate term moves counter to the main trend. These dips may be used to buy in.
Tomorrow being a weekend, we may see support coming in around the 5900 levels, and then short covering may allow the Nifty to recover quickly. The Bank Nifty still indicates to be among the stronger sectors.
Trade happy after planning your trade.
1 comment:
wow sirji ! but u mentioned a fall from 6150 to 5900 (250 pt nifty fall) so casually for a single day ! haha !
btw, u have 15 new fans visiting ur blog !
reg
ketan
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