MARKET UPDATE

If you enjoyed the relentless rally in past few days then you should not bother with minor pullbacks. Every Action would definitely have an Opposite Reaction. NIFTY has approached the support area of 18100 to 18200 as long as 18100 is held short term setup is stable. Some correction only on cards below 18050 on spot. Below 18050 NIFTY could show 17875 and 17650 in near term. The major structure remains positive as long as 17500 stays intact. So better to be in index with thin volumes. Because there are some issues on upside especially the zone of 18650 to 18800 would act as a strong resistance. This zone have many Inflection points if we join the January 2020 high and March 2020 Low. So it is a challenging zone going forward. This market still have plenty of time before the current cycle complete its course. Which would end in April 2022. Going ahead if we get a monthly closing above 19100 then probability would be extremely high for NIFTY to test 21000 in this cycle. As far as investments in cash stocks are concerned no issues there. Short term corrections would come and go but ultimately they would go up significantly from current levels. Specially the cash stocks posted by me are surely completing there targets it’s just the matter of time. You need to keep time horizon of 3 to 4 months for those cash ideAs. Would look to suggest few more cash ideas in days to come.