The market will continue its corrective journey till reasonable valuations are reached.
Uncertainty is likely to persist and the downward drift might not ease anytime soon.
Traders should rotate their portfolio and book profits in companies like Reliance Industries.
Smallcap and midcap indices have refused to go up, which means a fall may be coming soon.
An investor must cautiously go shopping on D-St and not blindly pick up all beaten down stocks.
Once the earnings season gets over, Mr Market will hopefully adjust to the global realities.
In general, among various sectors, FMCG was the star performer by delivering excellent numbers.
Only 54 per cent of the total stocks are trading above their 200 DMAs.
Investors must maintain a cautious stance, as the year ahead is heavily clouded by political drama.
Traders can go long at current levels with current weekly lows as stops.
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