Long awaited Correction is here.
As discussed in my earlier post, correction was inevitable, only thing it came latter then expected. BSE Sensex has lost around 200 points in three trading session after touching a lifetime high of 7800+.
For all those who fee that correction will is over, my word or caution is to wait for 2-3 days more. I expect a further correction of around 100 points. Markets are likely to bounce back on Friday or next Monday.
Last three sessions have been highly volatile. Though today’s drop was much lower (10 points), market fluctuated for around 127 Points. This shows high volatility. Such volatility is issue of high concern as it does not give definite trend.
A consolidation is expected to take place in the market at this juncture. Even in this consolidation phase select stock like Bharthi, Aditya Birla group companies etc.
Pick for today Venkat Pharma
Buy Venkat Pharma @ 62 à 8/12 Weeks. Venkat Pharma board has approved rights issue and the funds raised will be used for expansion. Accumulate on deeps.
For all those who fee that correction will is over, my word or caution is to wait for 2-3 days more. I expect a further correction of around 100 points. Markets are likely to bounce back on Friday or next Monday.
Last three sessions have been highly volatile. Though today’s drop was much lower (10 points), market fluctuated for around 127 Points. This shows high volatility. Such volatility is issue of high concern as it does not give definite trend.
A consolidation is expected to take place in the market at this juncture. Even in this consolidation phase select stock like Bharthi, Aditya Birla group companies etc.
Pick for today Venkat Pharma
Buy Venkat Pharma @ 62 à 8/12 Weeks. Venkat Pharma board has approved rights issue and the funds raised will be used for expansion. Accumulate on deeps.