Dear Investor,
NIFTY has arrived at a critical junction. Real trend will be decided from this point onwards. As I correctly told in last weeks blog we will see crackers on either side of the index. Market picked upside and moved on. It is possible that after a break above blue horizontal line of 5611 there will be a sudden rush of money and market begins a new rally. Volume on recent rise has been declining so that appears to be remote possibility but you never know.
I went through many top stocks in NIFTY this weekend and many of them are breaking down. There are not many worth taking risks so I will remain on sideline for some time to come.
Apollo Tyre and CESC are good stock to look at right now because of the technical chart formations. Both are at resistance point right now so it will be worth a wait how they play out.
Thanks
Anil
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