Few Eye Catching Stock Charts

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Overall tone of the market is very bullish. US market closed high with very good volume, that will send positive triggers around the world markets. We will see some positive movement in India as well.

Market exactly bottomed at 150 day line. Now it is starting its earnings season expectation rally. More buyers are stepping in to take risk which will get some novice investors to get excited and pay premium for few stocks. The good part about bull markets is that everybody makes money even if are just a beginner. The opportunity is ample and money supply is good.

I keep talking about panic buying and panic selling in few of my blogs. Somehow, this Fridays rally appeared to me as a panic buying. As if the market will not give any opportunity later and just keep moving higher. The market gapped up in the opening. Almost 80% orders on stock exchange were buy orders. This kind of behavior generally marks the end of current rally and short term correction follows.

We are in a bull market and we will not change our views until market closes below 150 day average line for at least 6 weeks. Rallies and corrections will be part of this game.

Please add following stocks to your watchlist

United Phosphorous

Suzlon

Hero Honda - its breakout from trading range gives me even more bullish sentiment. Hero honda and Maruti were the leaders of the market in last rally. Hero honda could be a signal that new leg up will unfold soon.

First Source Solutions

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Thanks
Anil
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Stop Loss: Sell Stock if it closes below this price. It tells you that market has proved you wrong. Accept it.