BULLISH STILL

Target given of 3050-3150 both achieved today, markets shrugged off the selling pressure today and slowly but surely moved above 3050 towards 3150 , heading maybe towards 3221 the minimum target I posted in the WAVE charts..The last 1 hour trade surprised many and the shorts of the last few days got completely butchered thus forcing big short covering. Had mentioned before also that as the weak hands are out & the strong hands have no fear of sell ,also the short covering of lended stocked sold by FII is taking place too making the markets go higher.Hope all enjoyed the ride up...as this was really a spectacular all the way..cheers

PROFIT TAKING TO SIDEWAYS

Markets will need fresh buying momentum to push forward , maybe with news or triggers in the coming days failing which it will be sideways to corrective dips of this huge rise from bottom. Markets can retest the bottom again or maybe stop higher thereby signalling to participants its footprint for trade to come in the coming weeks/months.Point to note here is Momentum/Index shares despite of severe beating , did a smart recovery.Wait a bit for market cues to settle before intitiating any longs..the trading ranges have already been given during the weekend... happy trading....CHEERS.