Thursday, May 15, 2014

Adding More Heat

Nifty is trading on life time high and regularly making higher high and closing high of the day. This is very bullish sign for market. It is like market is discounting election outcome, which could be NDA government. Now major international indices are also increasing heat in global market.

        DJIA is trading at life time high and moving in trading range since december. It is trading closer to resistance level of 16500 of that trading range since February and now breakout from that trading range.

        S&P500 is also trading at life time high and continuously making higher highs. It is also breaking out its resistance of 1890, from its one month trading range.

        Breakout from last resistance is a bullish sign and trading at life time high is more bullish. Both the indexes are leaders of international market and Nifty always like to follow them. It is a clear sign that we are not alone who is running faster and at the top, other international friends are also joining the party and confirming our move is right. So we should look to enter at every pullback or correction and stay only with long positions.

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