From beginning of May, market has made three attempts at making NEW HIGH. But got rejected as soon as it entered resistance zone. Is this a warning shot? Is market providing us with clues!!! What to expect next?
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As expected, the moment market entered resistance zone it was rejected hard. As a result, we saw last weeks pullback. What does this really mean?
Ask yourself:
If you have been following our blog then by now you should have some idea about market direction as well as a rough plan. If you are new to this site then don't worry, keep reading along and you will understand.... Market has finally managed to make a new HIGH, but can it keep going at this pace! Is this the right time to get in or get out? What is the best possible outcome at this juncture!!! What should we be prepared for?
Nifty took a U-turn in mid-April and a huge rally has brought it back to making New HIGHs. Soon you will start hearing lot of chatter on news and everyone claiming that this is start of NEW BULL market and what not! Avoid hearing noise and DO NOT get sucked into temptations, but WHY? Nifty is actually headed into a resistance, really!!!
In last two weeks market has managed to recover in V-shape pattern. It does appear that correction is over for now BUT is this rally sustainable!!! What shall we expect in near term?
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