Readers of this blog do not have any excuse to say they missed the BULL train as we have been mentioning that recent dip was a buying opportunity. So far we have had three buying opportunities or low risk entries and if you missed all then time to re-evaluate your investment/ trading strategy. So lets take a overview of this market....
Below charts displays two buying opportunities:
- Beginning of April - This was the 1st opportunity as Nifty managed to find support near MA(200) and crossed upwards above MA(100)
- Mid of May - This was 2nd opportunity as Nifty managed to find support at MA(100)
- Beginning of July - This was 3rd opportunity as Nifty again managed to stay above MA(100)
Daily Nifty chart remains bullish as Nifty is near ALL TIME HIGHs.
Weekly chart provided several clues about market during these dips:
- Check RSI which remains above 50 mark after the dip in March 2018
- We did not see divergences across all the indicators (suggesting this is not a prolonged correction) as we saw during Jan 2015
We believe this market will make NEW HIGHs soon and by this time next year we shall see market near 15000. DO NOT expect market to go straight up (no fun in that, right!!!).
Market remains in strong BULL trend...
Market remains in strong BULL trend...