Hi All,
As mentioned in the yesterday's post Knock Knock Bears, Nifty did not sustain at all below the supports of 10680-70 levels and bounced back sharply to create a new life high.... Hence the the negative bias was not triggered.
Sensex closed first time ever above 35000 and is surely a great sign for bulls, the upside targets can be in the range of 10900-11000 for Nifty, where 11k being the most important psychological level...
Though markets have over extended gains and are overbought as well, there is no need to worry for bulls as of now, as charts do not show any negative sign.
Cheers
Hrishi
As mentioned in the yesterday's post Knock Knock Bears, Nifty did not sustain at all below the supports of 10680-70 levels and bounced back sharply to create a new life high.... Hence the the negative bias was not triggered.
Sensex closed first time ever above 35000 and is surely a great sign for bulls, the upside targets can be in the range of 10900-11000 for Nifty, where 11k being the most important psychological level...
Though markets have over extended gains and are overbought as well, there is no need to worry for bulls as of now, as charts do not show any negative sign.
Cheers
Hrishi
2 comments:
Hoping for a bull run ahead..
Yes. But with a caution for traders... As the markets are over extended... Trailing stop loss must for longs
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