Hello and Welcome Back,
Today Markets were Bleeding with the Global Markets and China Leading the Opening Session while Europe Pressuring the mid day session.
Received Many Queries regarding Nifty Supports and Further moves..
Here is what I see on Weekly Charts ..
First Chart on Weekly Time Frame, Showing we are still in Good Uptrend and trading near a support in the midway of the channel also trading in a short term rising channel and trading near the channel support. to be precise, the level is around 8490 level.
This is a second chart on weekly timeframe, showing current move as a expected flag formation, and on a Larger scale, it is showing chances of cup and handle formation, Although the formation at top of the chart have less impact, but if completes it will push markets higher. The Flag Formation is showing a high possibility of Huge upside in Markets.
In Short, There is no clear indication of any bear Market and there is no need to panic in such markets, the fall is good for accumulating good stocks.
Things are not changed overnight and suddenly the world is not going to end.
The Panic is always created to keep weak hands out of the Market.
Be Wise !! Trade Wisely !!
Disclaimer :
All the views mentioned are according to the simplest form of chart reading, no complexity. The Adviser is a Global Market expert and SEBI Certified Investment Adviser. Working in Global Markets as a Technical Analyst and Fund Manger for Global clients. Investors should not jump in the trade and Must Follow strict Money Management before trading index.
