|Market This Week
||WOW! What a festive season we have had. The NIFTY has stuck to its support levels and has headed north since then. There has been constant and consistent buying from the FII’s. So technically this rally is not superficial. It is backed by strong buying. Note that a traditional retail investor has not participated in this rally. As usual they are confused! We are happy for all our clients. What a money making season we had!! All our recommendations have done wonders in the last couple of months with top contributions from Tata Communication, ZEEL, Radico Khaitan, SAIL, Guajarat Gas, EROS, Escorts etc. and BF utilities leading the race with a 90% returns in just 5 trading days. Happy Diwali indeed!!
Now the markets are likely to pause for sometime before the next move. There could be a slow moving correction. If there is only buying with no participation from other players then we could see a downside due to heavy selling. However the chances of this happening are less though cannot be taken off completely. The markets look to move upwards steadily and retain the momentum for now. This is the time to take maximum benefits from your investments. We should all be following the ‘Exit Strategy’ to exit our positions. Else you could lose out on rallies which BF Utilities gave. 6050 on the NIFTY is the support to watch out for.