- Nifty is trying to find support near MA(200) - Market is below MA(100) hence caution is warranted
- McClellan Index is below EMA(59), however take a closer look and it appears to be moving up! - Remain cautious as we are by no means out of the woods yet
What does it mean for our Investments?
- Mutual Funds - If still invested in equities then you probably don't have a choice but to stay invested and ride the correction which could take a while, be patient. But it would be wise to STOP SIP for now until market stabilizes. If in cash/FDs/liquid funds then wait for next robust opportunity, NO need to hurry.
- Stocks - ONLY invest in strong patterns with good earnings guidance and DO NOT forget to have STOP LIMIT on open positions. When market is in correction, it will drag everything down with it. Check out our trade size calculator to manage your risk along with potential buy candidates watch list.
Market remains in correction stay on sidelines...