What i have observed that whenever Nifty has crossed or got resistance from long time trendline it retrace back, ideally it should behave like that. But due to high momentum in short time retracement can be delayed and that is happening in Nifty right now.
I think the force behind Nifty run is weakening in coming days and fresh drop will start. What do you think about above analysis?
From astro aspect any bull or bear phase change its momentum around 15 of every month as sun changes his home and goes in the next rashi.so the major effect will be seen from Monday onwards either bullish or bearish?let us wait and see the change.
ckirtane
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FORGET ANY MAJOR DOWN MOVE TILL 15500.THIS IS A VERY SHARP BREAK OUT NOT GOING TO HALT.EITHER STAY LONG OR BUY DELIVERY.
MrGaggi
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@ckirtane yes pressure is building, I think trend will continue for some more time. can't tell about levels but one thing is sure everything has a peak. more fast it will go up more rapidly it will come down too.
light_kumar
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MAIN question is when, nifty will correct for sure but when is the golden question
MrGaggi
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@light_kumar, since 2015 Nifty stayed average 5.25 weeks above trend line before starting a new trend below trendline. It just an observation, no body knows when it will make final top but I think it's very near.
light_kumar
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@gagan.mehrok, How many weeks have passed this time, 4 or 5 ? not able to see clearly
MrGaggi
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@light_kumar it is less than that, it has been only 3 weeks.