Sensex roared with a HUGE rally on Friday, BUT what really happened!!!! Why sudden upward move!!!
Two major news were the root cause:
Is this start of the next BULL move!!! AND how do we know that?
Two major news were the root cause:
- Our PM Mr. Manmohan Singh took over the Finance Ministry - Market made an anticipatory move UP under the assumption that new financial reforms and changes will be brought in to satisfy Corporate houses and Multinationals
- Euro Summit reached an important agreement to allow troubled Euro-zone banks to take loans directly from ECB (European Central Bank) without any control on the Country's Fiscal Policies/Budgets - Kick the can down the road and the story continues...
Is this start of the next BULL move!!! AND how do we know that?
Below Chart is self explanatory.
Key things to watch:
Both indicates that market is poised to move higher from here and next upward BULL move might be starting.
Key things to watch:
- Nifty crosses MA(100) from below
- McClellan Index very close to crossing EMA(59) from below
Both indicates that market is poised to move higher from here and next upward BULL move might be starting.
Below Nifty chart shows the upward breakout very clearly. From here on, market might make a gradual move upwards. See how market consolidated before breaking out on good volume. Market always provides enough signals before making major moves, all it takes is to observe this signals.
This will be ideal time to act and execute on your watch list of stocks if you had one. The probability of a stock to go higher significantly in very short with a good pattern is very high especially when broad market always higher. You can also refer to our watch list here.
Time to get back in the game but don't forget STOP LIMITs.
Time to get back in the game but don't forget STOP LIMITs.