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.
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.
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