Long overdue correction happening

The markets for due for a correction and that is what we are seeing now. Trump effect does it act as a trigger for a more pronounced correction or it something for the very short term.

1. The maximum correction so far has been 200 points. This takes us to 9330. If it is a wave correcting the entire up move then it will last much longer and one can expect the election gap of 8940 to be tested.

2. Domestically, there are no major triggers in the coming months.

3. This is a bull market no mistake about it and every correction is a buying opportunity.

4. The Pharma and the IT stocks are in a prolonged bear market and they will take some time to recover.

5. The eventual targets for this markets on the Nifty are between 10500 and 12000/

6. The markets will follow the US market moves which will follow the antics of Donald trump It is not that easy to impeach a US President.

7. The GST rates announced are fair and reasonable.

8. Gold prices can spike up on every Trump crisis that erupts.

Every dip is a buying opportunity and the smooth rollout of GST will be watched. The onset of Monsoons will be an important trigger for the markets.

Markets to consolidate

The results has mostly ended and the good results are in. A few results surprised on the upside and the results were mostly good.
 1. There are no major triggers for the markets to either sharply go up or down. That is why we are seeing the markets oscillate in a range.
2. The downside risks globally are only a risk of war. US companies reported record earnings.
3. There are several good IPOs lined up and can be considered for investment.  They offer a safe investment.
4. The markets should remain strong for next 18 mobths at least and a range of 10500 to 11500 can be achieved.
5. Every dip is a buying opportunity.
6. The election gap may not be filled and the corre tion can be to maximum 8950 levels.
 7. Part booking of profits and re investing the same is a must to lower cost price of holding, protect profits and safe guard oneself from black swan like events.
8. Elliot suggests up side 9450 9500 and correction limited to 8950 9000. One can book profits at upper end of range and buy back at lower end of range.