Technically stock market had a first distribution day yesterday. Distribution day is a day when selling is done on heavy volume. If we have couple of more distribution days going forward then we have to be cautious. As of now it is one of the off days after 7 days of winning run.
Real Estate and IT stocks are on fire. Reason is unknown to me, well we are not interested in reason, what we see is that these guys are running high so there is some value discovery in progress. When the value is discovered those stocks would settle down until then lets keep hitting the home run.
Yesterdays China stock fall has not affected India market nor did it affect US markets. So the moment of truth could be witnessed later. The real devil is in US Dollar, If the dollar gains strength then the picture would totally change from current trend to new uncharted territory. I am not sure if FIIs will start pulling out but thats a possibility. This will have trickle down effect and we could get our long waited correction.
Until then happy shopping
Thanks
Anil
Subscribe to India Stock Market Tips by Email
Please forward this email to your friends and family members to help them build wealth under technical stock market guidance.
Disclaimer: Please trade with your own judgment or with the help of investment advisor. We are not responsible for any financial losses.
No comments:
Post a Comment