On our blog www.meghainvestments.blogspot.in (oldest regularly updated blog in Indian stock market research and advisory field since 2008) we have been writing about inherent weakness in Indian stock markets as well as the non trendiness and sideways/range-bound kind of movement in the markets which has been exactly playing our like that only.
The markets are still in the same mode of buy on dips and sell on rise, however it is slowly inclining more towards the ‘sell on rise’ attitude. Also, the ‘triangle breakout’ pattern on Nifty-50 Index could be the make or break. Most world markets are in their H2-2018 bear market along with the equity beacon USA DJIA index which started its severest correction since 10 yrs of bull market in terms of time and price as well. To our analysts, this small bounce back will only persists for a little while and big trades are on the downside as we are always trying to hunt out big trades then small movements.
If markets are going to go up we will know it and get to it. The Nifty can give good conviction upside only above 11,000 and not before that. We need weekly close above it and then we are