After initial breakout last month, Market has managed to move higher steadily. What to expect next!!!
Below chart shows NO signs of worry and market continues to remain healthy as:
- Nifty remains well above MA(100) & MA(200)
- McClellan Index remains above EMA(59) and MA(100)
In daily Nifty chart below, market appears to be following consolidate-breakout pattern in slow and steady manner. This is a healthy sign for bullish market and also avoids lot of volatility.
Nothing has changed on weekly Nifty chart, market continues to show bullish signs. Soon we shall hit our target range after which we will need to be cautious.
What does it mean for long term investments?
Market remains in bullish mode for now...
- Mutual Funds - Continue to remain invested as market is showing bullish signs
- Stocks - Invest in right patterns and take partial profits, DO NOT forget to have STOP LIMIT in place.
Market remains in bullish mode for now...