Look at the black trendline I have drawn, it's so steep almost like 80 or 85 degree. Very Bullish move without any retracements.
By the way, I'm very curious and interested to know whether any Gann Guys predicted this steep move this week with time frame too ?, that would be superb prediction from Gann angle !
i) Clearly, another Bull Day expected as Nifty made New highs
ii) Yesterday Crab legs extended up few more points
iii) Very small pullback last session if Nifty face resistance at 9350-60's zone
iv) I dont feel much resistance at 9330's, Only on very strong bear confirmation take shorts
v) Its probably All Bull's Day...Lets watch !
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Note : Yesterday got one comment from one of the followers about that extended crab & I feel super glad to know people coming up with different scenarios. Really Appreciable :)
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Gap Up done as expected. Now, Take support around that zone (20 pts ) and extended bull run... Just My view !
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If there is no bearish sign in this zone, dont even think of shorts... Just trail your stops and ride on the bulls...
@SohilShah, oh ok..but if tax cut happens its incentive for corporate's right ?! so up move then ?
SohilShah
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@InsiderB, true, but it wud be an illogical upmove for india, since those cuts promotes "make in america" but i guess indian markets wud rally with others
InsiderB
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@SohilShah, yes probably bcos of the bull run. But anyway we aren't trading with news events right ? Even if we have one we will take trades only if there is trade setup. But I dono man, where these bulls are running & why ... Are these macroeconomic factors that strong globally & Domestically ? We are just waiting for a tipping point...
SohilShah
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@InsiderB, no clue whatsoever the tipping point should not be far off
InsiderB
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@SohilShah, yep charts will show us when it is... The more inflated Bull run, Deeper Correction
nalinakshi
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fibbing means lie and untruth, is it a false move to that level?
InsiderB
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@nalinakshi, Intentionally used the word "fibbing" :D Bcos its completely inflated bull run,it may extend too :)