Nifty continues to be in resistance zone and struggling hard to maintain its climb. So far New Year is not so good for the market. What shall we expect in near term?
Not much has changed in below chart, market continues to remain bullish and all signals in below chart are favorable so far.
On daily chart, Nifty is sitting right on MA(50) which might act as a support for another bounce.
As we can see in below chart, Nifty is struggling hard to remain in resistance zone OR shall we say trying hard to break through this zone.
What does it mean for our Investments?
Market remains bullish for now...
- Mutual Funds - If invested in equity funds then stay put but be ready to pull the plug if market falls below 6000 level. If invested in debt/bond funds then DO NOT take a loss more than 8-10%, until then let it ride. It might be in our best interest to stay in FDs or Liquid Funds for now.
- Stocks - ONLY invest in strong patterns and DO NOT forget to have STOP LIMIT in place. Check out our Watch list here.
Market remains bullish for now...