Nifty is traded more than 150 points up after new life time high formation today but we told for such rally 3 times yesterday in "Fresh Rally continuation after Pennant Pattern broken out Confirmations"
1- fresh rally after correction completion confirmations
2- emergence of fresh rally expectations after last 31 sessions correction completion.
3- expected that rally will remain continued
1- fresh rally after correction completion confirmations
2- emergence of fresh rally expectations after last 31 sessions correction completion.
3- expected that rally will remain continued
Certainly fresh rally after 31 sessions correction completion and until complete selling patterns will not develop on EOD Charts till then correction will not begin and clear caution that fresh short positions must be built up only after such selling patterns formations.