Nifty correction will continue and the Rectangle channel is Broken on the downside from 10275 levels which now behaves like a Resistance...The immediate target levels for the Nifty as per the Rectangle channel which is broken stands @9750....
Psychologically the market is in a depressed mood and the feedback i got from market participant that everybody is bearish presently on the markets... and they think that the markets will still go down further...
also the way the market is behaving it looks like there is not electric current to support the market and take it forward on the upside...i mean lack luster performance by the market to go on the upside....
but for the long term investor to buy in staggered manner is very important and one should buy even if the market dips from current levels...But in Staggered Manner...
Just few weeks back a strong Rectangle channel was formed betwn nifty levels of 10600 to 10275...which was a consolidation phase and continuation of downside trend correction...
The above article is not a recommendation and is my personnel opinion only...
Psychologically the market is in a depressed mood and the feedback i got from market participant that everybody is bearish presently on the markets... and they think that the markets will still go down further...
also the way the market is behaving it looks like there is not electric current to support the market and take it forward on the upside...i mean lack luster performance by the market to go on the upside....
but for the long term investor to buy in staggered manner is very important and one should buy even if the market dips from current levels...But in Staggered Manner...
Just few weeks back a strong Rectangle channel was formed betwn nifty levels of 10600 to 10275...which was a consolidation phase and continuation of downside trend correction...
The above article is not a recommendation and is my personnel opinion only...
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