Market continues to remain in the bullish channel and so far nothing has really changed. How far this party will continue!!!
What is below chart telling us?
- Nifty well above MA(100) while MA(100) & MA(200) trending higher - Both suggesting bullish action
- McClellan Index below EMA(59) while both EMA(59) & MA(100) trending down - Both suggesting remain cautious
Daily Nifty chart below displays the streamlined bullish channel. The low risk area is at the bottom end of the channel while high risk areas remain near top end of the channel.
Weekly chart below shows the bullish channel established by the market in last 10-12 months.
Market continued to grind in the bullish channel from one end to other end and repeats the process. Budget euphoria will push the market higher or at least keep it in the bullish channel for couple of weeks/months.
What does it mean for our Investments?
Market is Bullish, enjoy the gains....
What does it mean for our Investments?
- Mutual Funds - If already invested in equities then stay put and enjoy the bullish gains. If in cash/FDs/liquid funds then wait for next low risk opportunity.
- Stocks - ONLY invest in strong patterns with good earnings guidance and DO NOT forget to have STOP LIMIT on open positions. Check out our trade size calculator to manage your risk along with potential buy candidates watch list.
Market is Bullish, enjoy the gains....