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?
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.
Time to get back in the game but don't forget STOP LIMITs.