Sunday, September 18, 2016

Decisive week ahead

The coming week has the US Fed meeting coming up and if there is no hike in rates, expect a swift upmove.

1. The market continues to be stuck in a range and a close above 8848 is first sign that the range will be broken on upside.
2. 8650 forms the lower end of the boundary. This week, the fed meet will be on Wed and we will know by the time markets open for trade on Thursday.
3. The rally will be swift and we will see new highs even if a correction happens. The reason for the rally is liquidity. Till liquidity flows in, rally will continue.
4. Break of 8650 will lead to 8450 8500 range and break of 8850 will lead to re test of previous highs.

I would book profits in mid caps and invest the profits in large caps. Always, the stratwgy of reducing cost price works.

No comments:

Post a Comment