Dear All,
So, once again we can observe the formation of a Cross Doji pattern on the chart of Nifty. Therefore, it’s time to be a little cautious now, because such kind of a consolidation will create a sudden rise or a sudden fall, in the form of a Breakout or Breakdown.
Besides, we hope that our Morning Mantra updates have been helping you, specially in the regards of Portfolio Rebalancing, as we have been stating it since the last week.
Yes we are still with our words, that if Nifty makes a positive breakout, then it can surely achieve its Target of a New high, as even the Market Sentiments are positive. But the Index is trading in a very narrow range of 18400-18600 as of now, where we either need a breakout or a breakdown from here.
Furthermore, for now, it will be better to avoid exposure trading in such a market condition.
Regards,
Alok Daiya
SEBI Registered Research Analyst