Last week, Sensex continued to move higher and did manage to cross 5740 area. However, on Friday, it painted a RED bar on high volume suggesting a possible pullback or sideways action. What to expect in near future?
Nothing new in below chart, market continues to remain bullish, so far NO signs of trouble.
We can easily see the RED candle on last day in below chart. Expect sideways consolidation or pullback.
Nifty continues to hit against Upper Bollinger Band as shown in below weekly Nifty chart and is prone to pullback, however trend remains bullish for now. But do not get overly aggressive at this point, wait for god entry points.
What does it mean for our Investments?
Market has managed to make significant move in last month due to Government policies and Global economic news. If you missed this rally then now is not the time to get in, wait for good entry points. Remember, having patience and entering at right time matters. Let market present present its next opportunity for entry, till then be patient.
Enjoy the party till it last but be cautious...
- Mutual Funds: Stay invested as we do not see any signs of trouble for now.
- Stocks: Invest in good promising patterns ONLY and do not forget STOP LIMIT.
Market has managed to make significant move in last month due to Government policies and Global economic news. If you missed this rally then now is not the time to get in, wait for good entry points. Remember, having patience and entering at right time matters. Let market present present its next opportunity for entry, till then be patient.
Enjoy the party till it last but be cautious...
RSS Feed
