Nifty(5018): Nifty continued to rally and closed above 5000. Round numbers are not resistances but they help in pushing sentiment to the extremes.<\/p>\n
Let's quickly do a check on the positives and negatives.<\/p>\n
Whats favouring the bearish case?<\/p>\n
1) Our\u00a0proprietary which has a stellar record since 1997 says the bear market is not over.<\/p>\n
2) The rise still looks corrective rise - a three not a five in Elliot wave terms<\/p>\n
3) Sentiment on Nifty and INR are getting very one-sided and excessively bullish ( I'm hearing calls for 5600 Nifty and 2008 highs for for ADAG)<\/p>\n
4) IT stocks may have rolled over the bearish side<\/p>\n
What's favouring the bulls?<\/p>\n
1) The breadth so far has been encouraging.<\/p>\n
2) Markets have been penetrating through big resistances<\/p>\n
3) Reliance trying to offset the negatives through a buy back<\/p>\n
So here we are with Nifty making a dash at the December highs. It is very likely that if market is going to reverse it is going to do it either today with a pop at open or on Monday.<\/p>\n
Nifty Resistance : 5065-5075 Support 4960. Watch for the first 15mins, note the highs and lows at 9:30IST. If market drops below the low, high chances that markets have seen an exhaustion. Try a VERY SMALL short<\/span> with stop at above 5100 or the high of the first mins IF AND ONLY if Nifty drops below the low you have noted.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":" Nifty(5018): Nifty continued to rally and closed above 5000. Round numbers are not resistances but they help in pushing sentiment to the extremes. Let’s quickly do a check on the positives and negatives. Whats favouring the bearish case? 1) Our\u00a0proprietary which has a stellar record since 1997 says the bear market is not over. 2) […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42,76],"tags":[],"class_list":["post-1376","post","type-post","status-publish","format-standard","hentry","category-indian-stocks","category-premium-content","category-42-id","category-76-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1376","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/comments?post=1376"}],"version-history":[{"count":5,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1376\/revisions"}],"predecessor-version":[{"id":1723,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/posts\/1376\/revisions\/1723"}],"wp:attachment":[{"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/media?parent=1376"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/categories?post=1376"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cashthechaos.com\/blog\/wp-json\/wp\/v2\/tags?post=1376"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}