FOLLOW UP 5 - WILL IT REPEAT THE SHOW ONCE AGAIN ?

On 5'th march in this link http://kolhapuritrader.blogspot.in/2012/03/follow-up-nifty-in-triangle.html it has been mentioned that- "So now it looks like that, it will target 5100, at least 5200 this week." and once again as per expectation last week it made low of 5171.45.
          As we are mentioning repeatedly on this blog Indian market is entering new bull market. We first posted regarding this possibility on 24 Jan 2012 ( see link - http://kolhapuritrader.blogspot.in/2012/01/drama-will-it-repeat-show-once-again.html ). Now one by one it is giving new clues and confirming that it is  bull market.

According to technical analysis BULLS ( UPTREND) lives above 200 SMA ( or 200 EMA) and BEARS (DOWNTREND) lives below  200 SMA ( or 200 EMA). Now last week even though short term trend is down after correction NIFTY taken support around 200 SMA and EMA ( see chart)



         On 24 Feb we mentioned regarding possibility of GOLDEN CROSS  in this post ( link - http://kolhapuritrader.blogspot.in/2012/02/follow-up-4-will-it-repeat-show-once.html ) which has been all ready happened.

        In technical analysis some traders/ investors look for exponential moving averages (E.M.A.), while some look for simple moving averages (S.M.A.)
        Now see the chart below and what happened yesterday -----

 You can see that  50 SMA crossed above  200 SMA yesterday that means one more GOLDEN CROSS happened yesterday. Thus one more clue got confirmed that we are in BULL MARKET. 

SHORT TERM VIEW -- Now if yesterdays low (5327.55) is not broken  then NIFTY will target 5500 in this week ( on 14'th march inflation data will be out, on 15'th R.B.I. policy and on 16'th  UNION BUDGET will be there so possibility of lot of volatility during this week so short term traders should follow there stop losses strictly).

LONG TERM VIEW --- As we have mentioned on 24'th Jan (http://kolhapuritrader.blogspot.in/2012/01/drama-will-it-repeat-show-once-again.html )  our market has entered new bull market and even though state election results not boosted market sentiments hold your investments, and if your risk profile and capital allows buy on every dips ( corrections) and hold on till long term trend is up.
Eventually looks like NIFTY will target 5500, 5700, 6000 and may even make new life time high till MARCH 2013.

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