29 March 2016


Hi Friends,

In my previous post I mentioned about the Resistance near 7727 on Nifty. As mentioned Nifty tested 7749, however failed to close above the Resistance. After forming a Doji Satr on previous day Nifty tested 7749 but dropped sharply and formed Bearish Engulfing candlestick pattern; which is an Indication of Reversal.
The current Rise in Nifty might be a part of Leading Diagonal in Wave 1 of New Bull Market or just a part of 'X' Wave of the year long Bear Market. If Bulls manage to protect 7604 Nifty may resume its Up Trend in 'e' leg of Leading Diagonal. However, failure to protect 7604 may lead to resumption of the year long Down Trend in Nifty. Bulls must protect 7604 and cross 7749 in next 5-6 trading sessions, else a sharp decline to 6647-6567 in April/May shall be the End of year long Bear Market.

Currently we don't know whether this Rise is a part of New Bull or just a Bear Market Rally; however we can say the Bear Market is over once Nifty Decisively Breaks the Resistance near 7749. We need to watch price action near 7604 and 7749 very carefully to determine the future movement of Market.

One may start accumulating Stocks now and Build a Portfolio during 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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