Market continues to stay near NEW HIGH and appears to be consolidating in a narrow range. This action can add fuel to further gains in coming weeks. BUT is this the right time to get in? What shall we expect for near term....
Not much has changed in below chart and all signs for now remain bullish:
- Nifty well above MA(100) and MA(200), also MA(100) above MA(200)
- McClellan Index remains above EMA(59) and trending higher
As mentioned earlier, it is clearly visible that market is moving in a narrow range for past few days in below daily Nifty chart.
Market continues to remain on track to attain target range near 6800-6900 before any meaningful pullback.
When market continues to make NEW HIGH every week and everyone in news media is screaming BUY BUY BUY then It is very tempting to jump in. Remember, that is the precise time one should have self control and patience. If you missed the rally so far then wait for next good opportunity with a good risk-reward ratio. NO need to jump in the market, once this wave of buying is over then market will have a pullback providing better buying opportunity.
What does it mean for our Investments?
Market continues to be bullish and marching higher...
What does it mean for our Investments?
- Mutual Funds - If invested in equities then stay put until we see signs of danger. If in cash/FDs/liquid funds then wait for next right opportunity.
- Stocks/ETFs - ONLY invest in strong patterns and good earnings and DO NOT forget to have STOP LIMIT in place. Take a look at trade sizing to avoid massive losses.
Market continues to be bullish and marching higher...