As usual my opinion is still the same. We are less likely to get huge sell off because of lack of such catastrophic catalyst. Any such sell off will be great opportunity to invest. Prepare your buy list and keep an eye. Its certainly not the time to be 100% invested at the same time you shoudn't be completely out.
Many stocks are still breaking out of their long term consolidations and many are breaking their previous highs.
Look at Greaves Cotton. It has almost doubled from its March low. Recently it moved above its previous high. Its a great sign. Lets not be under illusion that it will keep raising forever. No stock does. It keeps moving in a range. Only thing that matters is what range would it keep bouncing.
Buy Greaves Cotton to participate in its current rally. Go small and steady. If it corrects in near future that be a great entry point. We don't even know that it will correct but the chances are less.
Stocks are probability game. We can only judge the highest probability based upon other investors action from the chart. Good Buy point for Greaves Cotton was at 151. We missed it and we are late to the party. Well doesn't matter we will know soon if we are joining the party or have been fooled.
As said before we are not in a trending market. Just in a trading range so hold your breath for the action to emerge. We could only be successful if we join the next wave early. Indian markets are very fast in its moves. You miss the entry you miss the whole rally.
Right now lets not repent on the missed rally. The opportunity will swing by again.
It always does for the one who is ready with his buy list
Happy Trading
Thanks
Anil
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