Last week, Market continued to march higher. As we can see, once the Euro-zone crisis was out of the way, market started grinding higher. However, the Euro-zone issues are NOT resolved and they will re-surface later. For now enjoy the party till it lasts...
Last week market crossed MA(100) from below and continued to move higher. Also McClellan Index in bottom portion of the chart crossed EMA(59) from below. This might be possible continuation of the trend after a correction of about 4 months.
Below Nifty chart shows clear breakout with good volume. Expect the trend to continue UP with minor pullbacks.
Next logical target for Nifty would be 5600 area, but do not expect it to go higher in straight line. This is ideal time to get back in the game, however be cognizant of the fact that Euro-zone can disrupt this party anytime.
Be invested in right setups and with good risk management...
Be invested in right setups and with good risk management...