As we suggested in our last post, it was an awesome opportunity to get in the market as next BULL train station will be recent HIGHs near 9000 area as everything appears to be aligned for that target area. BUT what if we missed this opportunity!!!
A clear sign of next things to come is visible in below chart:
- Nifty has managed to get above MA(100)
- McClellan Index has managed to get above EMA(59)
As we can see, market has moved from 8200 area to 8600 area fairly quickly. However, don't expect market to go to 9000 area in similar fashion. Expect lot of churning to reach 9000 area as daily RSI appears to be overbought, hence we shall see a sideways move or possibly a minor pullback. Check out a visible divergence between Nifty and other indicators shown by arrows which was a clue that market will move higher before even the move started.
Weekly chart also suggest strong bullish action.
If you followed our blog then you shall be already on this BULL train and shall not have missed this awesome opportunity market gave during the pullback.
But, lets say we missed the train (once again)...... Now what shall we do?
The next low risk opportunity shall come near 9000 area. No one should miss that opportunity as after that barrier is broken then we expect market to go crazy and quickly reach our initial target of 12000.
But if we expect market to go higher then why not enter between now till 9000 area?
We need to understand that our entry into market needs to be near low risk area in order to minimize our losses. By entering into market based on assumptions without any basis can lead to losses in the event market takes a bad turn. remember, markets do what they want and we need to follow them, NOT have illusion of commanding them.
Market in full bullish action...
But, lets say we missed the train (once again)...... Now what shall we do?
The next low risk opportunity shall come near 9000 area. No one should miss that opportunity as after that barrier is broken then we expect market to go crazy and quickly reach our initial target of 12000.
But if we expect market to go higher then why not enter between now till 9000 area?
We need to understand that our entry into market needs to be near low risk area in order to minimize our losses. By entering into market based on assumptions without any basis can lead to losses in the event market takes a bad turn. remember, markets do what they want and we need to follow them, NOT have illusion of commanding them.
Market in full bullish action...