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An intermediate bottom is in the making...........
Today was a good day for our markets. Sharp cool off in price of crude oil, sharp recovery in US market and positive opening of Asian markets helped market to start on a very positive note and unlike other days it sustained at the higher levels. Interest rate sensitive stocks surged ahead. Metal sector was the laggard of the day. The upward momentum was due to short covering as well some buying in frontline stocks. Market participants were still skeptical about this rally. Sometimes market turns for short term when people least expect it to do so.
Going forward flow of positive news, inflation, and price of crude oil, global developments and political development at home front will weigh heavily on the market sentiments. We may have formed a short term bottom but we are still not out of woods.
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Money management comes in place before Trade then only Trade management left with you.Just like you prepare your suitecase before boarding the train.Once you are on board it's just a matter of time where to jump out of the train.
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