- Nifty continue to remain well above MA(100) and MA(200) while MA(100) stays above MA(200) for now.
- McClellan Index stays strong and well above EMA(59) and MA(100) suggesting underlying strength
- Market continues to struggle and to remain at NEW HIGH
- As mentioned earlier, this market is NOT going anywhere until 2014 election results are out as smart money will make sure that market remains in a wide range.
- Even if it breaks out briefly, it will come back and retest current resistance area
What does it mean for our investments?
- Mutual Funds - If still invested in equities then stay put but be ready to pull the plug anytime. If in debt/bond funds then make sure you do not take a loss more than 8-10%. It might be best to stay in FDs/Liquid Funds/etc.
- Stocks - ONLY invest in strong patterns and never forget to have STOP LIMIT in place.
Market at new NEW HIGH but be cautious...