16 March 2016


Hi Friends,

In my previous post I mentioned about possible Rise in Nifty to 7427 or Higher. As mentioned Nifty bounced sharply to 7584.
After testing 7584 Nifty formed Doji candlestick pattern and there is Negative Divergence on RSI; which is a Indication of Reversal. Nifty seem to have formed a Short Term Top and a much awaited Dip looks on cards.

The current Rise in Nifty might be Wave 1 of New Bull Market or just a part of 'X' Wave of the year long Bear Market. If Bulls fail to protect 7406 Nifty may decline to 7295 or 7205 in Wave 2/b. Post this decline Nifty may resume it's Uptrend. However, if Bulls fail to cross 7605-7727 in next 2-3 weeks a sharp decline to 6647-6567 in April shall be 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 7727.

We need to watch price action near 7205 and 7605-7727 very carefully to determine the future movement of Market.

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.