Look at the NIFTY chart, it is showing some positive signs, but is it reversal? If seen the support area, it took support and closed just above the support area on 4th Jun. Yesterday on 5th Jun, it gained sufficient ground, but do you think this is a strong recovery? We feel that the uncertainty is not over yet and needs the prices to settle despite the strong PA yesterday. Let's wait for the prices to break the previous HIGHs on chart now before we say we are out of woods...It actually hit our targets on downside and even extended by almost 2000 points on same day on 4th Jun itself. The Price correction seems to be over and now should enter into a time correction phase till the budget. The budget should become more populist than strong reforms in the immediate basis. I reserve the right to go wrong here!
Uncertainty Index - INDIA VIX has crashed yesterday to its long-term normal range of 18.
Comments