Tuesday, March 1, 2016

IS THE BUDGET SIGNALING END OF BEAR MARKET??

Hi Friends,

In my previous post I mentioned about possible decline in Nifty to 6839 in case of failure to cross 7243. As mentioned Nifty bounced to 7252 and thereafter declined sharply to 6826 in 'Y' wave of the Complex Correction.

NIFTY
After testing 6826 Nifty  recovered sharply and formed Hammer candlestick pattern and there is Positive Divergence on RSI; which is a Strong Indication of Reversal. Nifty seem to have formed a Short Term Bottom and a Fast & Furious Post Budget Rally looks on cards. If Bulls manage to protect 6960 Nifty may bounce to 7275, 7363 or 7427. 

Nifty tested the Lower end of the Downward Sloping Channel within which it is Trading since last One year. Nifty is in Downtrend since almost a year now. The Market participants are extremely Fearful and the Consensus is Bearish. All these are Signs of Nifty Forming a Long Term Bottom and there could be an End of Bear Market. Currently we don't have a definite answer; however one can start accumulating Stocks now for better returns over next 2-3 years. We can say the Bear Market is over once Nifty Decisively Breaks the Resistance near 7727.

Post the Budget Rally Nifty may decline again in it's final leg of Correction and test  6647, 6617 in April 2016. We need to watch price action near 7427 very carefully.

One may start accumulating Stocks now and Build a Portfolio during March-April 2016. It's a Once in Lifetime Opportunity to Invest in Equities. A Mother of Bull Markets is on it's way. So start Investing now. 


Thanks & Regards,

Harsh Dixit.

8 comments:

ankit said...

hello,
i am following your post from last one month and have to say you have predicted the market in a right

Vinesh Motwani said...
This comment has been removed by the author.
Fincare Services said...

nifty crossed 7427 with ease. what now?

Pradeep said...

As sugess ,please go short with April series 6800 pe for gt8 profit

Pradeep said...

Buy April pe

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