- Nifty well above MA(100), MA(100) also well above MA(200) both suggesting bullish action.
- McClellan Index well above EMA(59) and now started to move slightly higher also suggesting bullish action.
Many of you might be wondering if we should get back in the market as market broke out to an ALL TIME HIGH which is considered bullish. But wait a minute, lets understand current scenario. Election results are NOT out yet and still has two months to go. Depending on who comes into power and forms a government will drive the market direction for many months to come. Also lets NOT forget Ukraine situation which can turn on a dime. We believe that, No matter how high this market goes it will come back to test 6400 level before starting any meaningful BULL market. BUT let's say you DO NOT want to miss current opportunity then initiating small position might be better to test these waters.
What does it mean for our Investments?
- Mutual Funds - NO need to jump into equities right away, wait n watch. If you absolutely need to get into market then open a small position to test water. Best way to remain liquid yet earn some interest then Liquid Fund is your best bet.
- Stocks - ONLY invest in strong patterns but DO NOT forget to have STOP LIMIT in place. Check out our watch list.
Market remains bullish and make an ALL TIME HIGH...