First of all wishing all visitors to this blog a very happy new year..
So what has the markets been doing in the last 6 odd week ...We had touched a peak somewhere in NOV end which we could not cross for the levels of projections of 8900-9200 range..and we corrected ..a long grilling wind down..We have made 3 tops again after that till last week... but the high of NOV end is still not passed..So what next...MACD daily is projecting a wave up as its crossing the zero line...so a new high in coming weeks is very possible..We have crossed a important point of 8525(NF)..A next cross of 8595 and if market stays above that we will be hitting a new high..8380 and then.8220-8250 is the new support for this markets in correction below which 7950-8000 can be tested again..8500 is your near term SL..enjoy the trade cheers
So what has the markets been doing in the last 6 odd week ...We had touched a peak somewhere in NOV end which we could not cross for the levels of projections of 8900-9200 range..and we corrected ..a long grilling wind down..We have made 3 tops again after that till last week... but the high of NOV end is still not passed..So what next...MACD daily is projecting a wave up as its crossing the zero line...so a new high in coming weeks is very possible..We have crossed a important point of 8525(NF)..A next cross of 8595 and if market stays above that we will be hitting a new high..8380 and then.8220-8250 is the new support for this markets in correction below which 7950-8000 can be tested again..8500 is your near term SL..enjoy the trade cheers
