The 2 PM Review.

Monday markets are trending – up. This is no surprise since the intermeidate trend has been up for two weeks. Last week saw a correction in this up trend when the Nifty fell from 3240 to 2900. This should be considered as a ‘healthy’ correction.

The primary trend is down. We are in a bear market. This suggests that the intermediate up trend should face resistance around 3300, and then around 3500. I would expect 3300 to be significant resistance.

If you are long today (and, you should be !) then the position or part of the position can easily be carried overnight. More in the evening.

Have Fun!