The momentum of selling pressure, global sentiments and macros indicate that, this is the start of the NEXT BEAR PHASE...!!
Important Support Levels as on Monthly Chart are mentioned on the chart above.
Bulls Need to give a Monthly Closing above 10400 to avoid break of the bull run from Feb '16 to Aug '18.
If 10400 breaks and we get a monthly closing then Nifty can fall all the way down to test the Monthly Support .
Positional Short @Cmp of 10599
Target 10400 / 9950 / 9700
Stop Loss 10865
Before doing that, just to make u aware that, I'm a CA, CFA Level 1, pursuing Masters of Finance and have done a detailed analysis on what financial crisis is and what Bear Markets are.
Firstly, I very well know what dow theory is and have studied and practiced it. I know that markets and price never falls in a straight line. It's a series of decline and pullbacks. However what we witnessed last week was a straight fall of 800 points in Nifty in one line without any pullback.
Secondly by saying that lower levels upto 9700 / 9500 / 9050 can come doesn't mean it will come tomorrow. It may take 4 to 6 months or even more. Bear Markets in past have lasted for about 9 to 13 months. This is just the start. It's been only 35 days and Market has corrected close to 13%. So the selling pressure or momentum what we are seeing is not of a normal correction. It's more that that.
Thirdly, my intention is no where to create a feeling of panic among retailers. My intention is to make them aware about the market trend so that they don't go against it. Just read the participant OI data which is published by NSE everyday. You'll find huge long positions that are added by retailers. I don't think I'm doing anything wrong in making them aware of the market trend. My intention is solely that they can trade wisely with the trend and avoid incurring huge losses.
about time these fake monkey govt run fake companies driving a fake stock market .
Bjp will leverage its funds parked at fake companies (read adani,ambani) during the elections , and that will get the ball rolling .
Indian rupee has never been weaker. fundamentaly and well as your chart says technicaly too .
please go read some books on stock market and read some developed market before commenting these . u will understand how market moves
i m just assuming u invested 10k in 2017 - 200X means 10000*200= 1000000.
50k 50000*200= 1 cr
bro if any amount u have invested - u r extraordinary, I can say ur father of market. and in this speed, u will beat Warren buffet or any damn person in just 5 years.
in the end - i m no bhakt of bjp or congress .but yes I don't post anything which creates panic in a common retail investor rather i want people to believe in long-term economic growth and participate in that.
also for u a statement
"blathering is endless"