Hi All,
As per my earlier post(http://www.blogger.com/blogger.g?blogID=1193946081176724201#editor/target=post;postID=8663621023365516905;onPublishedMenu=allposts;onClosedMenu=allposts;postNum=3;src=postname) after BJP gaining a clear cut upper hand in assembly ellections markets reacted positively, however they fell off sharply from the days high and also a Life time high of 6415... currently hovering around 5350 mark.
I think this correction which might get extended till 6300-6200 (maximum) and should provide a chance to go long for traders.
for a bigger time frame a close (preferably monthly) is required above the previous life high of 5357-60.... Once that happens Nifty is set for yet another bull run with some predictable targets ranging from 8k to 10 k over a period of 3-6 years....
Traders should seek corrections for getting a long opportunity rather than trying to catch it right now.... going short for short term can fetch low risk low probability but may be a high return opportunities, so the same should be avoided by conservative traders, aggressive traders should do it once some bearishness is seen on daily or hourly charts.....
Cheers
Hrishi
As per my earlier post(http://www.blogger.com/blogger.g?blogID=1193946081176724201#editor/target=post;postID=8663621023365516905;onPublishedMenu=allposts;onClosedMenu=allposts;postNum=3;src=postname) after BJP gaining a clear cut upper hand in assembly ellections markets reacted positively, however they fell off sharply from the days high and also a Life time high of 6415... currently hovering around 5350 mark.
I think this correction which might get extended till 6300-6200 (maximum) and should provide a chance to go long for traders.
for a bigger time frame a close (preferably monthly) is required above the previous life high of 5357-60.... Once that happens Nifty is set for yet another bull run with some predictable targets ranging from 8k to 10 k over a period of 3-6 years....
Traders should seek corrections for getting a long opportunity rather than trying to catch it right now.... going short for short term can fetch low risk low probability but may be a high return opportunities, so the same should be avoided by conservative traders, aggressive traders should do it once some bearishness is seen on daily or hourly charts.....
Cheers
Hrishi