Friday, November 1, 2013
Is it start of secular bull run ?
Nature of the Current rally can't be foretold i.e. whether it is a new bull run ? It is still possible that this is an X-wave 6466-6696-7670(max allowed). Massive resistances exist for Nifty between 6400-6500 first, too strong resistance is there between 6600-6800 and gigantic resistance exist between 7000-7400. From any one of the levels the current up-move may face huge sell off. I expect it may happen from 6600-6800 range though an Inverted H&S is targeting about 7000 in Nifty. The elections are coming up in the next year i.e. 2014, anything can happen in the 1st two quarters of 2014.
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