The price action of the last 2 trading days has kept all the Bears Dazzled. Let us look what these 2 day price action has offered us in the NIFTY charts::
- A 52 week High Closing ( Both on Weekly & Daily charts)
- An inside bar at the intermediate lows
- Increase in Volumes
- An Intraday high breaking the past high of 5182
All these bullish signals definitely force a trader to be long. Sensex is yet to confirm a new high. After doing so we have a target of 18500 for Sensex with wave 5 extension. Next few days price action will definitely confirm the trend. But for the time being dont even dare to go short.
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