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We are in short term up trend- be ready .......
It was the fifth day of the rally .What a rally it was - market had a gap up opening and surged higher and higher the day after the Government winning the trust vote. It was the biggest single day closing for the market.
The beaten down sectors like banking, Capital goods, Power, Oil and Gas has a sharp rally. Stocks from banking sector surged on the expectation of tabling of banking reform bill in the present monsoon session.
Going forward 4200-4250 is a strong support. The price of crude oil has also come down (126.82 at time of this writing) and global markets are also witnessing a rally. All these developments augurs well for our markets.Nifty may rally up to its 200 day moving average which is at 4780.
We will initiate positions in select stocks once we get a dip around 4200-4250 levels to ride this short term uptrend rally. Do not initiate trade on your own watch this space for our instructions.
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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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