Today we saw Nifty coming below its 200 DMA and closing near the days lows. Where is it headed. The oscillators indicate oversold but in a trending market they generally dont work. The next support(wish) is 5550 and then we head down to 5400 area. This is now a budget month. We should just follow the trend and trade accordingly. Budget stocks like railway and fertilizers may see some action in the coming days.
Accumulate good stocks like ITC, HUL, Hindalco at dips for a medium to long term investment.
1 comment:
Very good analysis
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