As expected, after a miner pullback, Market is back into rally mode. Pullback was our chance to add to original position or initiate new. Were you prepared for it? Did you pull the trigger!!!
Not much has changed in below chart, and all signs support strong bullish bias.
Daily chart shows, every pullback in Nifty is swiftly bought up. Market keeps making NEW HIGH as buyers get in.
On weekly chart, WMA(10) acts as support and as long as Market remains above this line, it will be in strong bullish trend.
We already mentioned in past blog post that this market has a tremendous potential to make significant HIGHs for next 6-18 months. Every pullback to WMA(10) will be buying opportunity, however as soon as market breaks that support line, things can get very volatile. Enjoy the rally but DO NOT chase it, entry/exit are very critical for good risk management.
What does it mean for our Investments?
Market remains in strong bullish bias...
What does it mean for our Investments?
- Mutual Funds - If invested in equities then stay put, adding SIP is another option as market continues to make NEW HIGHs. If in debt funds then stay put but DO NOT take a loss more than 8-10%. If in liquid funds/cash/FDs then last week was an awesome chance to get in the market.
- Stocks - Invest in strong patterns and do not forget to have STOP LIMIT. Check out our watch list here and also trade size calculator here..
Market remains in strong bullish bias...