UPTREND continues to stay fermly intact for MARKETS

Trend continues to stay fermly strong for NIFTY  as we have been discussing since 6th,june.

So all trades still has to be on long side.
Anticipating a trend change in a LOW VIX environment is not going to work out.
Hens as professional traders look to chase INDICES on long side atleast till market register a change of some kind either on PRICE front or on TIME front.

so lets quickly discuss critical points on PRICE and TIME front.

PRICE

NIFTY

for NIFTY  all price patterns are bullish so the easy thing is to respect patterns and stay with long trades with trailing stops.

until friday our trailing stops were placed at 23020 which from today would be revised higher to 23,250,
so keep it short look to buy all dipps which ends above 23250 on spot,
initial signs for REVERSAL would only come when the given level is broken.
On upside 24000 is a gennuan resistance so if trailing stops are held most probably INDEX should print 24000 before making a turn.

S&P

S&P after clearing its major resistance of 5350 have extended its rally further.
Higher highs should still continue as long as PRICE sustains above 5350  but turn cautious if INDEX starts to give a daily close below 5400.
On upside 5530 is a point of pattern resistance,
watch out closely what INDEX  does when it reaches there.

TIME

On TIME front as far as INDICES holds last fridays low on closing basis setup would continue to project further higher highs.
specificly for INDIAN MARKETS 21st and 24th,june are very critical turn dates.
So watch out for a potential trend change closer to these dates.

similarly for U-S-INDICES potential trend change dates would be on 24th and 25th,june.
So from early next week expect voletility to return back which would put pressure on markets.

thats it for now.