The markets have lost about 2.2 pc in 3 days and are at a critical level. 4950 is the 61.8 pc retracement level of the entire rise ad the markets should take support here.
After 4950, the next support comes at 4880. The entire up move will be invalidated below 4751. Strategy could be picking up good dividend yield stocks. Many PSU banks have tax free dividend yield of about 5 % which is equivalent to more than 7 pc pre-tax. Such banks are a safe bet at current levels.
After 4950, the next support comes at 4880. The entire up move will be invalidated below 4751. Strategy could be picking up good dividend yield stocks. Many PSU banks have tax free dividend yield of about 5 % which is equivalent to more than 7 pc pre-tax. Such banks are a safe bet at current levels.
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