In our recent blog post, we mentioned that market may be range bound for sometime before making its next BIG move. We also mentioned that this range will be BIG (5400-6200) which in turn will frustrate many people. But with that said, we also believe that market is in topping formation and the path of least resistance is to the downside. What to expect in near term?
We told you so:
1. At beginning of this year we wrote an article "Timing Matters"
2. Earlier this month, we warned that we are witnessing "topping pattern"
Did you take any action!!!
Nifty continues to dive lower, where will it find support!!! Are you prepared for the possibility of bear market ahead? Bold prediction, Isn't it!!!
As expected we got our pullback, Nifty broke through MA(50) and even MA(200). If you have been following our blog then this should not be a surprise to you as we expected all this and warned about possible market topping pattern, advising to prepare to EXIT long term positions. BUT did you execute your plan or even had a plan!!! If you did not exit then will you get another opportunity? What to expect next!!!
Market took a dive last week and currently trying to find a support. We are probably witnessing long term trend change BUT on what basis do we anticipate a trend change? Can we find any clues and more importantly have a plan!!!
All indicators and analysis suggest following in coming months:
Have you done your homework?
Just like all of you, hard working and trying to make a better living.