Monday, June 9, 2014

A Close At Life TIme High

Nifty surged 354 points up in the week that was, breaking out from all previous highs. The Index  closed at new life time high of 7583 on Friday. The market remains firmly in a bull grip and higher levels could easily continue. However, a correction is still  to come, but no one knows when and after how much gain, the markets will cool off.

            DJIA trading in an uptrending channel. It broke out from the channel and closed yesterday at its new life time high of  16924. While S&P500 is making life time high on daily, trending strongly upward and closed at 1949 this week. Both of these indices are clearly indicating that U.S market are in a strong position and our market is getting support from them.

            Making life time highs and closing at these levels is a bullish sign and no one can predict that how much more upside is coming in near term. When we talk about S&P500, it is continuously making new life time highs from Jan 2013 and continuously making new life high after that till now.So try to be only long in this market with every dip as a buying opportunity.


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