Nifty Daily.
Nifty moved as anticipated.
In our post dated 06th May 2013, we anticipated 6080 and 6150 as the next levels, which are now respectfully achieved. The index first reached it's first target at 6080 then took a pause and today achieved our second target. Even in yesterdays post we mentioned that Monday's sell off did not meant that the trend has reversed, because it was still intact.
But prior to moving ahead and defining the next levels, we would like to describe the meaning of the title of yesterday's post. It was headed as " Nifty in a Virtuous and Vicious Circle". A few of our readers have asked us to explain what it means. And hence on their request, here comes the description:
Virtuous and Vicious circle are basically used in economics. A chain of events happen whereby the virtuous brings the desired results but the vicious circle tends to cause harm to the ongoing chain of events.
Here in Nifty, the current up move is the Virtuous circle bringing favorable results while the trading sessions of Monday and Tuesday created a Vicious circle trying to damage the uptrend and drawing people on the negative. Hence, personifying our title.
However, as mentioned by us their was no damage done and Nifty came up with a deciding sharp rise today and achieving the targets.
From here on, 6180 will be taken as our first target and a point where Nifty might take a pause once again. And post that we can see Nifty trading approx. 6245. And, pointing it once again:
" Their is No Loss Of Momentum till date."
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