Dear Investor,
Downtrend in NIFTY has been confirmed by last four trading sessions. We will have few bounce back days but we need to be careful now since the short term downtrend is taking hold. The downtrend will end with a panic sell off day where everybody turns a huge seller. This is just of temporary top formation process. Downtrend prediction will be void if we manage to close about the downtrend line
Money flow has turned negative after a very long time. FII are still the net buyers. Mutual Funds continue to sell. If this correction takes hold I expect a deep correction. Reason for such a expectation is that lot of excited buying has already taken place. Those with quick gain expectations have been if trapped will not be able to hold when the correction deepens. There will be a day where they will loose their patience and panic sell off will happen and the same day bottom will be in place.
There is no gurantee that correction will even happen that deep. This will still be a bull market correction to be used to buy when the bottom is in place. Lets give it some time to put in a proper bottom before jumping end.
Good Luck to All
Thanks
Anil
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