Hi Friends,
In my previous post I mentioned about possible decline in Nifty to 6839 in case of failure to cross 7243. As mentioned Nifty bounced to 7252 and thereafter declined sharply to 6826 in 'Y' wave of the Complex Correction.
After testing 6826 Nifty recovered sharply and formed Hammer candlestick pattern and there is Positive Divergence on RSI; which is a Strong Indication of Reversal. Nifty seem to have formed a Short Term Bottom and a Fast & Furious Post Budget Rally looks on cards. If Bulls manage to protect 6960 Nifty may bounce to 7275, 7363 or 7427.
Nifty tested the Lower end of the Downward Sloping Channel within which it is Trading since last One year. Nifty is in Downtrend since almost a year now. The Market participants are extremely Fearful and the Consensus is Bearish. All these are Signs of Nifty Forming a Long Term Bottom and there could be an End of Bear Market. Currently we don't have a definite answer; however one can start accumulating Stocks now for better returns over next 2-3 years. We can say the Bear Market is over once Nifty Decisively Breaks the Resistance near 7727.
Post the Budget Rally Nifty may decline again in it's final leg of Correction and test 6647, 6617 in April 2016. We need to watch price action near 7427 very carefully.
One may start accumulating Stocks now and Build a Portfolio during March-April 2016. It's a Once in Lifetime Opportunity to Invest in Equities. A Mother of Bull Markets is on it's way. So start Investing now.
Thanks & Regards,
Harsh Dixit.
In my previous post I mentioned about possible decline in Nifty to 6839 in case of failure to cross 7243. As mentioned Nifty bounced to 7252 and thereafter declined sharply to 6826 in 'Y' wave of the Complex Correction.
 |
| NIFTY |
Nifty tested the Lower end of the Downward Sloping Channel within which it is Trading since last One year. Nifty is in Downtrend since almost a year now. The Market participants are extremely Fearful and the Consensus is Bearish. All these are Signs of Nifty Forming a Long Term Bottom and there could be an End of Bear Market. Currently we don't have a definite answer; however one can start accumulating Stocks now for better returns over next 2-3 years. We can say the Bear Market is over once Nifty Decisively Breaks the Resistance near 7727.
Post the Budget Rally Nifty may decline again in it's final leg of Correction and test 6647, 6617 in April 2016. We need to watch price action near 7427 very carefully.
One may start accumulating Stocks now and Build a Portfolio during March-April 2016. It's a Once in Lifetime Opportunity to Invest in Equities. A Mother of Bull Markets is on it's way. So start Investing now.
Thanks & Regards,
Harsh Dixit.
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