Many analysts have turned bearish, but the case is just opposite. Ever since 30th June, Nifty had been bullish, and has already skipped two turn dates. And the next one is on Thu 20th. On Tue 18th it just completed 38.2 % of the range shown in the chart, and is ready to go up again. Possible Fibonacci levels are shown in the chart.
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Nfty most probably will top around 9:16, right at the opening. And if that does happen, then in the longer term Nifty will be sideways with downward bias till 2nd August, after that its down till 6th Nov, 4 months approx!
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read as 9:16 tomorrow morning.
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Action: Please close all positions at 15:25, 5 min before closing. We may get a high tomorrow morning at the opening, but that may just be a spike and may not give a chance to exit at appropriate level.
@pankajvw, Hope So. I have a lots of put bought on 30 June which are of negligible value now. If it goes down, till what mark it will go down before it starts climbing back again.