With The China border tensions and GDP numbers coming at a time when NIFTY hit its resistance after such a long rally, one should trade carefully and cautiously.
1) Nifty can bounce back to 11625 and consolidate between 11625-11387 which would be great and healthy.
2) Nifty can bounce back a bit and again fall below 11387 in which case we could see further fall up to 11088.
3) Nifty can straight away fall below 11387 and my touch 11387 again before it falls to 11088.
4) Nifty can start recovering slowly and steadily.
Yes, every fall presents an opportunity to buy and one should make use of it. So depending on your risk appetite buy your favourite stocks in very small tranches on every dip.
If you already bought quality stocks , you can either hold them even if they fall now only to recover later OR book your profit/loss so far and wait for a clear picture. Choice is yours based on the quantum of loss you can bear.
Global markets aren't weak. So there are chances that NIFTY can recover. So for the first few minutes my advice is to play the wait and watch game and then decide.
1) Nifty can bounce back to 11625 and consolidate between 11625-11387 which would be great and healthy.
2) Nifty can bounce back a bit and again fall below 11387 in which case we could see further fall up to 11088.
3) Nifty can straight away fall below 11387 and my touch 11387 again before it falls to 11088.
4) Nifty can start recovering slowly and steadily.
Yes, every fall presents an opportunity to buy and one should make use of it. So depending on your risk appetite buy your favourite stocks in very small tranches on every dip.
If you already bought quality stocks , you can either hold them even if they fall now only to recover later OR book your profit/loss so far and wait for a clear picture. Choice is yours based on the quantum of loss you can bear.
Global markets aren't weak. So there are chances that NIFTY can recover. So for the first few minutes my advice is to play the wait and watch game and then decide.
Comment:
DOJI candle today suggesting indecision between bulls and bears. It was a good battle but finally there was no clear winner/loser. Tomorrow's candle could show us some direction.
*DISCLAIMER*
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
For educational purposes only. Not a recommendation.
Treat StopLoss as your best friend to get you out of troubles.
