Sensex managed to break the resistance near 5300 area and marching higher towards 5500-5600 area. Not much has changed in last week from Global macro perspective. We shall witness lot of action in month of September, WHY?
Nothing to worry here, Market remains in UP trend for now based on the below chart:
1. Nifty remains above its MA(100) & MA(200)
2. McClellan Index is above its EMA(59)
1. Nifty remains above its MA(100) & MA(200)
2. McClellan Index is above its EMA(59)
On daily Nifty chart below, it is visible that the resistance near 5300 area was broken and Nifty continues to move higher.
Two outcomes at this juncture:
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
Make your own judgement from below weekly Nifty chart.
What are we expecting in Month of September?
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...
- 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...