- Nifty is hitting against MA(100) resistance - Will it be any different this time? Look at what happened last two times.
- McClellan index continue to remain below EMA(59), however it is flat for now.
- RSI & PPO has not yet definitively penetrated the dotted trend line
- RSI still below 50 mark while PPO close to zero mark
What does it mean for our Investments for now?
- Mutual Funds - If still invested in equities then time to hold onto this roller coaster ride, exiting now will be very expensive and painful. No need to rush to start SIP unless we get positive trend reversal sign. If in cash/ FDs/ liquid funds then it is wise to stay on sidelines.
- 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.
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Overall market trend remains down, be cautious...