Market may turn Volatile

Last two trading session gave a clear direction that market knows only one direction to move and that is north ward.

Market closed at a all time high to close at 8380, which was a clear sign of its movement towards magic figure of 8500. Over the weekend we expected markets to move past the magic figure this week after some consolidation in first 2-3 days of the week. Some cautiousness may emerge from media reports today about FM smelling some scam or insider trading in this student, unprecedented rise in market. This may surly create panic in small investors who will try to offload today. Big players may also refrain from taking fresh positions book profits at this level.

The only fear that I have today is consolidation and profit booking should not turn out into a major correction.

Hold or Prefer Moveing to Cash

Upward move of 10 trading sessions came to holt yesteraday, when in a very volitile session morkets moved in a range of 80-90 points and finally closed just in red.

Volumes sore to more then 32000 Corers but the market breather was negative. Number of declining stock was far more then number of accending stocks.

Mumbai high court will decide on RIL demerger plans on 16th Sep. This will act as a new trigger for the markets.

There is no clear direction comming out now. A correction small/big is required for markets to shot up again ahead of expire of deravitives and result season. We adivice you to either hold you investments or move to cash where you are sitting on huge profits. Wait for couple of days to get more visiablity on direction which market is heading towards.

There are no picks of the day for today. Just a small piece of advice “Wait and Watch”.