Higher High – Higher Low pattern in CNX IT.

CNX IT Index is making a pattern of Higher Highs – Higher Lows. This pattern is an indication of relative strength in the index, compared to the broad market.

Bear market shows its strength

The bear market is very much alive and kicking. This is the message we are receiving time and again. This blog has been consistently asserting that Indian markets are in a cyclical bear trend. A possible pattern target has been identified around the 4000 level in the Nifty.

My advise to investors is to have patience. While long term investing is possible at current levels, most investors will gain by waiting for this bear market to end.