Truncated Week

Markets zooming like anything. Up, up and up.  How long it can continue, no one can guess. Nifty almost touched 200 DMA. Traders should be very careful here. After Nifty reaching its highest peak, this is the third attempt to cross 200 DMA. This is the point make or break will happen. The truncated week started off well. Two weeks to expiry of current series. Fibonacci done 38.2%. Traders to wait and watch for a while on where it turns. If the same strength shown till expiry, then no doubt, in saying we are done with a very nasty downtrend.

Some analysts say, it is just gimmick, and it will turn down now, some says, we are at the start of bull market. It is hard for a trader on what to believe.