Bull Market ???
A million dollar question. Even a billion dollar question is "When". Anyway, beggining of November is the month of interest in observing the exhibition of ensuing the end of bear market,( but likely! ). However, not easily. In terms of technical analysis parlance, Capitualisation of bear is the last phase of a bear market. Thus it forms time-wise a longer trading zone with a lot of volatility in the pretext of breaching of lower end of trading zone that is now 4720 - 5400. That's at least going on now in my purview of Indian stock market. Bears have to stuck with their position what makes the cause of a start of bull run. At the same time, the low should not be violated for a week which confirms the bulls have now reinforced themselves.
The classic process is going on and I am also not sure that ultimately the process will be completed just as nature has built the sentiment. In case you are optimistic about the Indian Inc., then do not get disturbed even if the Nifty touch 4550. I strongly believe that the market may not breach 4500 convincingly. As of now, it is quite remote. Moreover, in case this time Nifty visit 4720 level, it will be time for buying in a small quantity till 4500 level. Once 5200 is breached, wait to buy in the Nifty zone of 4500-4750.
It has high probability that the market will take 3-5 months before moving up and we have only experienced October market characterstic. The market should behave like a bear market where bears have to be caught. This is the main characterstic of end of a bear market and it has to be exhibited this time too.
............To be continued.........