Good Morning Friends,
This is called euphoric run!!!
Is it fair run or unfair, that's definitely a different question and being a market participant, it's just not the point to think. If it is unfair run then market will itself correct it some time.
Let us back to technical,
The ease with which it has crossed above 17000 and closed above 17100, looks like nothing can stop it. I am going to read any indicator.
It's now purely a momentum driven market where correction looks impossible. Do you know that charts never gave even a small short signal in past few days. Not even on 15 minutes charts. So, momentum is that much stronger.
I am clueless how will it end. It is just reminding me December 2007. I am in money saving mode. I do not want to enter on either side.
Valuations are expensive.
For brave bulls, you have reasons to believe for 17200-17300. With the same reason why can't I say 18000 - 19000 even. (Please note, I am not claiming any figure, just asking).
If money is the only criteria to buy then it's better to be safe.
I am stopping shorting from past many days. Just a simple advise, unless market give a big red candle, don't short.
Don't even try to hunt for top to short.
Happy Trading, I am again on holiday mode
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