1. Nifty remains above its MA(100) & MA(200)
2. McClellan Index is above its EMA(59)
Two outcomes at this juncture:
- Nifty may continue the trend and hit resistance near 5500-5600 area
- Nifty may pullback and retest the earlier resistance at 5300 area, now turned into a support
- ECB shall release details of its plan for containment of Euro-zone debt crisis
- US Fed shall decide the fate of QE3 (quantitative easing third time)
What about Investments?
Mutual Funds: Continue holding till we see any reasonable signs of concern
Stocks: Invest in right patterns with appropriate risk management
Enjoy the party till it lasts...