Panic moves follow a sideways pattern for some time as it shakes the confidence of people operating the markets. After the RBI announcement and the distress that followed, it will take some time to get settled. This was clear in yesterdays movement on the broad markets. This indecision tips the bears by bringing more number of new lows in the market, which gives a trader few clues about what will be the next happening in the markets in the coming days.
There are chances for a bullish move which will support bears to take an opportunity and short the markets. Chances for a short trade on the Nifty looms large on the markets now, but, there needs to be a good pattern formation to take this stand. If on the contrary there is more confusion, it is advisable to wait for the right opportunity.
Going stock specific many good growth stocks have corrected in price, look for opportunities in going long on those stocks as they breach resistance, as a confirmation take volume clues before trading in them. For a stock to confirm its bullishness, has to reach a minimum 50% above average volume preceding its breakout, though not always does this happen, but can be had as a guide map of confirmation for your long trades.
Stock Supermarket is getting polished with every passing day, coming closer to its official launch. Money making is redefined through the Stock Supermarket.
Happy trading, team BraViSa.
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