Technical view by Nooresh

600 points down but not a time to get out …..

I still maintain the current not so expected correction is not a correction to sell but to buy and invest...
Mainly the heavies have corrected and are giving a good opportunity to buy and invest ... Strategy should be to buy in small quantities at every declines and use the distress selling for good gains for patient investors...

The current onsluaght has created a problem for only the margin and over leveraged traders who end up taking positions for which the losses they cannot stand .... If u see overall stocks have been pulled down 5-8% or more on the higher side and last 3-4 sessions which should not create a panic for those who have used the rally and entered at low levels or gained from low levels :) ... All those margin players who understood the lesson taught last time at 14700 would be well of today ...As conserving capital gained in the rally is as important as profits gained and discipline will never let u down can ..
Thought of the day : Panics , blood and good meat are common on this street, and if you are in a slaughter house , u better have the balls for it .....

The current correction doesnot look lethal like the previous one from 14700 to 12300 .. rather its an opportunity but wait and dont be in a hurry is the way to go ...... Global markets are under pressure due to various reasons so a cooling off is on and we are a part of it too ..........So chill and search for good areas to invest ..Indian markets and other emerging markets are always supposed to have volatile and fierce corrections ... Long term growth is huge so use corrections to create a portfolio then to chuck them ...

Best Regards,



Article by Nooresh Merani

Nooresh has written 2532 articles.

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