The coming week is a truncated holiday packed settlement week..Lets first consider what markets have done so far????we have been selling from the start of Feb till date making lower highs /lows..This is natural after 13 months of spectacular rise..What else , Huge no. of mid/ small caps are at 52 week lows or this means stocks prices have crashed to dismal lows but indexes still around 5700 due to index stock adjustments..Markets generally build parallel images and for technical guys will like to point out that if they draw channels in weekly charts from previous lows..they will find that temporarily , this could be a support zone..we have a gap in 5550 zone so can drift lower due to settlement pressure,,Your select stocks are well corrected and can be partially entered to trade a bounce..5750-70 will be resistance after which 5830-50 will be another resistance..clearing these levels the markets can retrace to almost 6050 over 5920 zone..Can we reach there is questionable ???as MAJOR CORRECTIONS do not end soon and with time correction we head much lower than these levels, but rallies in a bear markets are spectacular and confusing & should be traded....So keep aggressive trading and book your profits regularly to enjoy being in the stock markets..enjoy your trades..cheers
PS: A VERY HAPPY HOLI TO VISITORS OF THIS BLOG.
PS: A VERY HAPPY HOLI TO VISITORS OF THIS BLOG.
