I don't know what is happening in the market for the past 2 weeks. A terrific come back from 17000 levels to 19000 levels.
I think it is the right time for booking profits.
Ever since Nifty futures started trading, ten consecutive higher closes have happened only on two occasions in the past. This is one of the important point which should be noted by investors. This particular sentiment will never support market long.
I think the 20,000 range is still a psychological level for the market, because the global conditions are not good.
So at least for the next 3 to 4 months market will be in the 17000-19000 range.
There is no logic for the markets to hold on at these levels other than liquidity factors because clearly oil will be a big issue going ahead.
I think the next correction in the market mainly depend on the crude oil price. I think if the crude oil price go beyond $120, then expect a correction.
The stocks that I advised 2 weeks ago all cross the target I specified. Dhanlaxmi bank, V-guard, IDBI bank, LIC HF, Essar oil etc. crossed their upper cut off.
I cant advise any stocks now for the short term point of view, because all my favorite stocks are selling at a higher range. So let a correction come, then I will advise my stocks for the next month.
Regards Hari " लोका समस्ता सुखिनो भवन्तु "
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u r doing a good job..