Question for me:
For the past week or so, you have been suggesting buying. Come on Sudarshan, you have been so bearish, what changed in the past few days ?
Well, the charts changed.
To critics of change, I quote Keynes:
"When the facts change, I change my mind - What do you do, Sir ?"
The intermediate trend is UP, so traders should buy. The primary trend remains down.
When will the primary trend change ?
The classic method is when new highs are made in the Nifty, that is when the Nifty goes above 6350. That event should be a long way ahead. So, why worry ? Enjoy the up trend while it lasts.
The daily chart for the Nifty suggests a bullish pattern in the making - an inverted head and shoulder. If confirmed, we may be looking at a target of 5100 plus. Wow !
[I hope to add one or two more posts today evening, so keep visitng.]