nifty moving in a long term channel/ heading towards 12k

NSE:NIFTY   Nifty 50 Index
401 8
nifty at upper level of channel.
we can expect a correction from 11000-11050 level..
further sustaining above channel after breaking out can take nifty all the way to 12000 levels which is a trend line resistance drawing last 2 peaks bubble peaks.
Comment: There is a common misconception that Technical Analysis can be applied on the short-term. If you want to capture long-term trends you just need to look at weekly, monthly & yearly charts. You will be surprised how charts become more clear in the long-term.
in this monthly charts its shown clearly
Comment: 7 months and almost 700 points
as per time from tom correction will start for short term
@sandy, i may be completly wrong but couldnt understand how one can time market ...
if feb hold 10530 nifty spot than 11300-400 minor hurdle nifty will touch 12800
Have 15 K in mind, above 11.2K levels. Expect some Wild moves.
@mdhaamu, in bull market anything is possible , trendlines just suggest a pause /interval . doesnt suggest a stop
In my view it will not go up to 12k max it may go upto 11000-11100 will back to 10300
KumarAbhilash nages.rao2011
@nages.rao2011, M not saying it Wil go overnight. It's long term projection. Correction Wil b an opportunity
nages.rao2011 KumarAbhilash
@KumarAbhilash, Thanks, after correction it will up.
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