Sunday, October 9, 2016

Markets correct...buying opportunity presents

The markets have completed their short up move in the midst of correction and the downward move has resumed.

1. The C wave down has commenced after retracing the down move from 8968 to 8555 by 61 pc. The down move was 413 points. For equailty, this down can go to 8395.

2. The RBI rate cuts came and went, they had no impact on the markets. This shows the markets are consolidating for the moment.

3. In about a week's time, the pre Diwali rally may start, taking us to new highs.

4. Hillary Clinton winning the elections would be another positive for the markets..Donald Trump seems to be losing it.

5. The US Fed hike will happen in December in all probability.

I expect the next 10 days to give us the best buying opportunity in the next 1 year.

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