Absolutely boring market, not doing anything except move within a very narrow range which happens to be resistance zone. Nothing much to get excited about so far. What does it mean for us?
Not much has changed in below chart and market continues to remain bullish for now.
Not much changed on daily chart, however the dotted trend line has been broken now. market will try to find support in coming days. Will MA(50) provide support!!!
Market is stuck in the resistance zone for couple of months and so far not going anywhere.
What does it mean for our Investments?
Market still bullish but be careful...
- Mutual Funds - If invested in equity funds then stay put but be careful and be ready to pull the plug if market drops below 6000 level. If in debt/bond funds then stay put but DO NOT take a loss more than 8-10%. For now it might be wise to stay invested in FDs or liquid funds or just remain in cash.
- Stocks - ONLY invest in strong patterns but DO NOT forget STOP LIMIT.
Market still bullish but be careful...