nifty has made an all time high today followed by all time closing high. So are we in a bull run or have started a new bull run, it appears to be certainly not. We are in a short term bull run and till the market confirms the reversal we have to be bullish what ever the studies suggests. the time periods donot indicate a bull run as the retracement time is far more than the fall to justify the bull run as per elliott. the current move from November middle onwards is largely based on gap up openings and not more there have been four gap up openings three have been big gaps and the last two have been nearly 100 points above. The big red candle of today is indicating that the bulls might have liquidated their position at-least for the time being.it has been following by closing at the lowest point of the day which indicates that we might have formed an exhausion gap and we have chances of nifty moving down towards the gap opening before any attempts are made to made to move up. The last candle is indicating that we might be in for surprise on down side for market. is something happening in US tonight wait and watch.

M.Sri Mahidar.
Trend is Friend.