Technical view by Nooresh

Sunday Thoughts !!!

In the last weekend after a long time i made a little posting on this section. Given below are a few words of it for rest check it ---Sunday Thoughts last week.

Right now index has done nothing but money making has got a little easier for speculators also !! which may not be a great sign but such a period does last for a couple of months and a little washout cleans them again.
Well the signs of a little washout were there last week but nothing as ominous to take a full exit so the view was only to take some money out.

Currently i would consider the next 1-2 weeks would be a time where the weak hands who finally got in at 17.5k would soon chicken out. The sentiment was slowly getting better but the good part is we are seeing a healthy correction before the things went euphoric.

If you are a long term investor the next couple of years should ideally be excellent for returns provided one is doing a bit of cashing in and cashing out partially.

Suddenly a 5-8% correction on the index has got lot many people asking me whether one should exit ALL ??... Are we in a place like last January ? or Oct ?? .... I would call this the hangover after a clean bull party....

As of now the leverage position and sentiments are nowhere closer to euphoria but is more closer to caution so one cannot expect a Huge correction.

The bottom line is next couple of weeks may create confusions with index going all over the place but one should continue to remain invested and look to add positions but not leverage. Only when index goes below 15500/16200 on weekly or monthly basis would i re-look into the long term trend and decisions....

Best Regards,

Nooresh 09819225396

Article by Nooresh Merani

Nooresh has written 2532 articles.

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