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.For reasons beyond my control, I could not upload this yesterday. For whatever it is worth, I am doing it today, to provide continuity to my regular readers.
Has the market surprised me? Yes I would say. It was anticipated that the up move would come around the expiration date. But it seems to have started at least two days in advance.
The market may now try and close this large gap of today, but the bulls may try and not allow that to happen. In any case, the short term bullish pattern which was suggested has occurred. Now the only condition to be fulfilled is that the previous bottom of ~4468 must not be violated.
As of now, I do not anticipate that even if this short term bullish pattern holds, it would lead to great things. We may see a good up move, but I expect the bears to regroup around the 5400 levels once again.
Once this whole cycle of news driven knee jerk reactions are out of the way, we may see a relatively smooth move for the month of April.
Trade happy after planning your trade.
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