Market is experiencing a bounce after massive down move earlier. Such a behavior is inline during corrections. Are you prepared for the next move in the market?
Not much has changed in below chart.
Daily Nifty chart is displaying down trend along with death cross. MA(200) and MA(50) can act as resistance as market tries to break through, however the likelihood of such a move is less.
Weekly chart has not changed and all signs of further downside remains intact.
Market continues to remain in correction mode, suggesting further downside.
What does it mean for our Investments?
Correction mode continues, be alert...
What does it mean for our Investments?
- Mutual Funds - If still invested in equities then stay invested and ride the correction which could take a while, be patient. But it would be wise to STOP SIP for now until market stabilizes. If in cash/ FDs/ liquid funds then wait for next robust opportunity, NO need to hurry.
- 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.
Correction mode continues, be alert...