Nifty has done a fine run up from 4002 levels without any correctives and it makes one wonder with awe - how is the show managed. Whatever or however may be the case, point is now what. If you are long since then, there is not a word of appreciation that can be left over to congratulate you. But if you are planning to do something now, better be careful. The speed of rise warrents another rise as well as a dip.Do have a look at the price chart. When the low of 4002 was being made, around that time there was a IHS (inverted head and shoulder) pattern getting created. The funniest part is that you do not see this on the price chart. It is visible on the CCI chart. Similar case is now. The CCI chart shows a HNS (head and shoulder) pattern just created. Please do note that the head formed is not where the nifty tops. A right shoulder has just appeared and well...... it can go on for a few days before any final crack down. How long or deep should be the tank? This is triky to explain but make it a point to monitor it and once you go into profit mode, stay there with stops; of course cutting the stop earlier if things go wrong in the very first instance. We are not suggesting that you do a short now.... but wait for a few more days until more indicators show that something negative has to come .....before any 6000 nifty or 7000 nifty.
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